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ki77a [65]
3 years ago
12

Joe and Janice run an accounting firm. The firm receives $5,000,000 as income from its services. It pays an annual rent for offi

ce premises amounting to $240,000. The salary paid to staff amounted to $100,000. Other operating expenses added up to $24,000. What is the net income earned by their business? The total expenses of the accounting firm amounted to $ . Thus, the net income earned by the business is $ .
Business
1 answer:
Alexus [3.1K]3 years ago
3 0

Answer:

Expenses:  $364,000.00

Net income :  $4,636,000.00

Explanation:

The total expenses will be the sum of

Rent     $240,00.00

Salaries     $100,000.00

Operating expenses   <u>$24,000.00</u>

Total expenses   <u>$364,000.00</u>

Net income is the total revenue - total expenses

=$5,000,000.00  - $364,000.00

=$4,636,000.00

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