A company completed the following transactions during the month of October: I.Purchased office supplies on account,$4,000.
V.Paid the monthly rent of $13,000.
What was the company's net income for the month?
A)$12,000
B)$19,000
C)$32,000
D)$45,000

Question

A company completed the following transactions during the month of October: I.Purchased office supplies on account,$4,000.
 V.Paid the monthly rent of $13,000.
What was the company's net income for the month?
A)$12,000 
B)$19,000 
C)$32,000 
D)$45,000

Quizplus · Accepted Answer

The transactions given in the question do not provide enough information to calculate the net income. To calculate net income, we need to know the company's revenue and expenses. Only the expenses for office supplies and rent are given, and no revenue is mentioned. Therefore, we cannot calculate net income based on the given information.

A Company Completed the Following Transactions During the Month of October