Bravo company began operations at the beginning of 20x6 with a $10,000 cash investment by stockholders. during 20x6, bravo company had revenue on account of $5,000; of this amount $2,000 was collected during 20x6 and $3,000 was an outstanding receivable at year-end. bravo company incurred $3,000 of operating expenses during 20x6; of this amount $1,000 was unpaid at year-end. during 20x6, $1,000 cash was disbursed as dividends. the only other transaction during 20x6 was the purchase of $5,000 of equipment for cash near the end of the year. how much was bravo company's 20x6 net income?
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Ответ:
$2,000
Explanation:
Net income is determined by revenue subtracted by operating expenses. Since Bravo Company had revenue on account of $5,000 and incurred $3,000 of operating expenses during 20X6, the company's net income for the year is:
Bravo Company's 20X6 net income was $2,000.
Ответ: