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Aleks04 [339]
2 years ago
10

Hofnim, Inc. had the following account balances on September 30, 2016. What is Hofnim's net income for the month of September

Business
1 answer:
goldfiish [28.3K]2 years ago
6 0

Answer:

$22750

Explanation:

Calculation for What is Hofnim's net income for the month of September

Hofnim's NET INCOME

Fees Earned 64,000

Less Miscellaneous Expense (19,700)

Less Rent Expense (5,100)

Less Wages Expense (16,450)

NET INCOME $22,750

Therefore the NET INCOME will be $22,750

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Price

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As said above, producers would produce more goods and services which means that the quantity supplied will increase.

Profit

This is a competitive market. Each firm will earn zero profits because the drop in price will match the drop in marginal costs to ensure that firms are not making anything extra.

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<u>Investment analyst</u>

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