Question

Consider the overall effects on Floral Scent Cleaning Service from selling and performing services on account for $ 8 comma 780 and paying expenses totaling $ 4 comma 520. What is Floral Scent Cleaning​ Service's net income or net​ loss?

Answer 1

Answer:

Net income: $4,260.

Step-by-step explanation:

We have been given that consider the overall effects on Floral Scent Cleaning Service from selling and performing services on account for $ 8,780 and paying expenses totaling $ 4,520.

$\text{Net income}=\text{Total revenues}-\text{Total expenses}$

$\text{Net income}=\ 8,780-\ 4,520$

$\text{Net income}=\ 4,260$

Since the selling and performing services on account are greater than total expenses, therefore, Floral Scent Cleaning​ Service's net income is $4,260.