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pantera1 [17]
2 years ago
14

Joan Demers launched a professional services firm on March 1. The firm will prepare financial statements at each month-end. In M

arch (its first month), Demers executed the following transactions. Demers (owner) invested in the company, $150,000 cash and $30,000 in property and equipment. The company issued common stock to Demers. The company paid $5,000 cash for rent of office furnishings and facilities for March. The company performed services for clients and immediately received $10,000 cash earned. The company performed services for clients and sent a bill for $20,000 with payment due within 60 days. The company compensated an office employee with $6,000 cash as salary for March. The company received $12,000 cash as partial payment on the amount owed from clients in the 4th transaction above. The company paid $2,000 cash in dividends to Demers (owner). What is the net operating income for the month of March
Business
1 answer:
adell [148]2 years ago
4 0

Answer:

the net operating income is $19,000

Explanation:

The computation of the net operating income is shown below:

As we know that

Net Operating Income = Revenue - Costs

= $10,000 + $20,000 - $5,000 -$6,000

= $19,000

Hence, the net operating income is $19,000

we simply deduct the cost from the revenue so that the net operating income could come

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The cooling-off period.

<h3>What does registration with the Securities and Exchange Commission SEC require?</h3>
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To learn more about : Organization's management

Ref : brainly.com/question/28072798

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What are the pros and cons of relocating a small or midsized manufacturing firm (that makes mature products) from the united sta
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