Below are several amounts from Netcom Company's accounting records. Answer the questions that follow. A. Calculate the amount of retained earnings at the end of the year.
B. If revenue amounts to $220,000, how much is 'total expenses'?
C. How do you know the company has been profitable since it began operations?

Question

Below are several amounts from Netcom Company's accounting records. Answer the questions that follow.  A. Calculate the amount of retained earnings at the end of the year.
B. If revenue amounts to $220,000, how much is 'total expenses'?
C. How do you know the company has been profitable since it began operations?

Quizplus · Accepted Answer

The Answer of Below are several amounts from Netcom Company's accounting records. Answer the questions that follow.  A. Calculate the amount of retained earnings at the end of the year.
B. If revenue amounts to $220,000, how much is 'total expenses'?
C. How do you know the company has been profitable since it began operations?

Below Are Several Amounts from Netcom Company's Accounting Records