Answer:
$34,100
Explanation:
The computation of the net income is shown below:
Net income = Total revenues - Total expenses
where,
Total revenues
= Service revenue + sales revenue
= $145,200 + $27,500
= $172,700
And, the total expenses is expenses incurred i.e $138,600
So, the net income is
= $172,700 - $138,600
= $34,100
As we know that the income statement records only revenues and expenses and the same is considered
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
An individual customer's account receivable is recorded in the customer's ledger account and then summarized with all other customers accounts on the balance sheet as accounts receivable.
Explanation:
The ledger account that provides a subsidiary ledger's account balances is called a control account. The subsidiary ledger collects the transaction data of individual creditors. The accounts received by the subsidiary ledger have a separate account for each customer who makes credit purchases.
The sum of the balances of the subsidiary ledger should equal the balance of related controlling account. it supports the controlling accounts in general ledger.
The balance sheet is the summary of current balances in the firm's Assets, liabilities, and equities accounts.
The common subsidiary ledges are accounts payable ledger, accounts receivable ledger, fixed assets ledger, inventory ledger and purchases ledger.
The maintenance of information relating to the accounting equation is done in records known as <u>Accounts</u>.
<h3>What are Accounts?</h3>
- These are records that allow the storage of financial information.
- They include the various transactions the business is involved in.
Accounts are very important to a business as they allow the easy compilation of information such that a company is kept abreast of its financial situation.
In conclusion, these are accounts.
Find out more about accounts at brainly.com/question/1436327.
Answer:
I’m not sure what you mean but sleeping on a case is bad because when revealing the problem might be handle to late
Explanation:
