Answer:
The correct answer is (A)
Explanation:
Commercial finance is another way to generate funds, but they come with certain drawbacks compared to commercial banks. Commercial finance usually give loans to customers who are interested in more risky investments. The interest they charge is usually higher which can only be paid if a client invests in riskier investments to earn higher returns.
Owner's equity at the beginning of the year is
Assets-liabilities
60,000−17,000=43,000
Owner's equity at the end of the year is
Beginning balance+revenues-expenses+additional investment-withdrawal amount
43,000+48,000−36,000
+8,000−9,000
=54,000
Owner's equity changed by
ending balance-beginning balance
54,000−43,000=11,000. ..answer
Because of there nerves in there brain man o-o
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Answer and Explanation:
The preparation of the income statement is presented below:
Service revenue $634,900
Less:
Depreciation Expense $10,000
Insurance Expense 9,000
Miscellaneous Expense 8,150
Rent Expense 60,000
Supplies Expense 4,100
Utilities Expense 44,700
Wages Expense 548,200
Net loss -$49,250
