The following information applies to the questions displayed below.) Waldorf Co. had the following transactions during the month of October 2018: (1) Cash received from bank loans was $60,000. (2) Dividends of $18,500 were paid to stockholders in cash. (3) Revenues earned and received in cash amounted to $100,500. (4) Expenses incurred and paid were $78,000. What amount of net income will be reported on an income statement for the month of October?
a. $100,500.
b. $ 78,000.
c. $ 22500
d. $ 18,500.
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Ответ:
c. $ 22500
Explanation:
The income statement shows the net income of an entity for given period. This is determined by deducting the expenses from the sales for the period.
Given;
Revenue earned and received in cash amounted = $100,500
Expenses incurred and paid = $78,000
Net income for the month = $100,500 - $78,000
= $22,500
Ответ:
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