The following are the current month's balances for Adams Marketing Company
Accounts Payable $7,000
Revenue 11,000
Cash 3,000
Expenses 1,500
Furniture 14,000
Accounts Receivable 14,000
Common Stock 10,250
Notes Payable 5,500
What is the net income for Adams Marketing for the current month?
A) $11,000
B) $9,500
C) $12,500
D) $14,000
B .Revenue $11,000
Expenses (1,500 )
Net Income $9,500
You might also like to view...
Define “source orientation.”
What will be an ideal response?
For any technology, the market demand has an upper limit that can be exceeded without a change in technology or a new way of using the product
Indicate whether the statement is true or false
Http
a. is the document format used to produce Web pages. b. controls Web browsers that access the Web. c. is used to connect to Usenet groups on the Internet d. is used to transfer text files, programs, spreadsheets, and databases across the Internet. e. is a low-level encryption scheme used to secure transmissions in higher-level () format.
Firms that use International Financial Reporting Standards (IFRS) may, but need not list their assets from least liquid to most liquid, with the same ordering used to list liabilities
Indicate whether the statement is true or false