Answer:
D. $ 10,300
Choice D is correct: Net income = $ 10,300
Explanation:
Cash Received = $ 16000
Less Rent Paid= ( $ 2000)
Add income = $ 3000
Less Salaries for the month of March = ($ 6200)
Less utilities paid ($ <u>500)</u>
<u>Net income=</u> $ 10,300
Treatments.
Net income is found by deducting expenses from revenues earned
$ 100,000 is the retained earnings so it is not accounted for net income.
Equipment is an asset so it is not accounted for net income.
Cash received is the revenue so it is accounted.
Rent is an expense account so it is subtracted.
Income for service $ 3000 provided is also taken into account on matching principle basis.
Advance received will be adjusted when the services will be rendered on matching principle.
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<em>brainly.com/question/8422319</em>
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Answer:
The correct answer is option D,19.
Explanation:
In calculating the above,two steps are involved-calculation of future value of $10000 invested at 6% for three years and calculation of number of years it would take to draw down the future value to less than $1000 by withdrawing $1000 every year beginning from year 3.
Using financial calculator,FV=FV(rate,nper,,-pv)
Please note negative in pv and the two commas
Rate=6%,nper=3 years and pv=$10000
Besides, the number of years was calculated using nper formula,which is given as:nper(rate,-pmt,pv,,1)
Find all calculations in the attached while also paying attention to the formulas.
