Martha Pharoah Ito began the Pharoah Company by investing $75000 of cash in the business. The company recorded revenues of $555000, expenses of $410000, and had owner drawings of $30000. What was Pharoah's net income for the year?
Martha Pharoah Ito began the Pharoah Company by investing $75000 of cash in the business. The company recorded revenues of $555000, expenses of $410000, and had owner drawings of $30000. What was Pharoah's net income for the year?
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 2.1C
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Martha Pharoah Ito began the Pharoah Company by investing $75000 of cash in the business. The company recorded revenues of
$555000, expenses of $410000, and had owner drawings of $30000. What was Pharoah's net income for the year?
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