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In an income statement. If the income is 426,000 and the expenses is 500,000. The result of operation is
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- In an income statement. If the income earned is 523,200 and the expenses incurred is 123,000 the result of the operation isUse the accounting equation to answer each of the following questions.(a) The assets of Kafka Company are $290,000. Owner’s capital is $450,000; drawings are $140,000;revenues, $150,000; and expenses, $220,000. What is the amount of Kafka Company’s total liabilities?If total liabilities amount to P2,196,000 which is 60% of the total assets, then _____ is the total assets of the business.
- At the end of the first month of operations for FDNACCT, the business had earned P140,500 of revenues and incurred P71,500 of expenses. It also showed the following: Liabilities: P25,000 Assets: P118,000 How much is the owner’s initial investment?How do you make a company's financial statements for a year with expenditure as 25,000 and profit as 5,600?If operations for an accounting period resulted in revenue earned of $200,000 and expenses incurred of $175,000, what is the net income or (net loss) for the period? Group of answer choices $375,000 net income $125,000 net loss $25,000 net income $200,000 net income
- The balance sheet of Mi-T-M reports total assets of $400,000 and $450,000 at the beginning and end of the year, respectively. The return on assets for the year is 10%. What is Mi-T-M's net income for the year? A. $42,500 B. $85,000 C. $45,000 D. $4,250,000Wexler, Inc.’s income statement showed total expenses for the year to be $50,000. If the com-pany’s revenues for the year were $125,000 and its year-end cash balance was $35,000, what was Wexler’s net income for the year?A company's net income for the year is $150,000, total revenue is $800,000, and total expenses are $600,000. Calculate the company's profit margin.
- Crow inc. had revenues of $45,000 and net income of $3,400. What are the company's expenses ?During the year, A Salt & Buttery, Inc., had revenue of $88,000 of which $6,000 was collected from customers. It also had expenses of $28,000 of which $3,000 was paid. The owners were paid $20,000 in dividends. Net income for the year equals?Prepare a comprehensive income for the following independent transactions 1. Service revenue 95,000 salaries expense 5,000 transportation expense 15,000 rent expense 20,000 utilities expense 3,000 other comprehensive income 8,000 2. Salaries expense 25,000 transportation expense 1,000 rent expense 10,000 utilities expense 5,000 and service revenue 40,000