A company completed the following transactions during the month of October: I.Purchased office supplies on account,$4,400.
V.Paid the monthly rent of $16,000.
What was the company's net income for the month?
A)$13,000
B)$19,000
C)$35,000
D)$51,000

Question

A company completed the following transactions during the month of October: I.Purchased office supplies on account,$4,400.
 V.Paid the monthly rent of $16,000.
What was the company's net income for the month?
A)$13,000 
B)$19,000 
C)$35,000 
D)$51,000

Quizplus · Accepted Answer

Service Revenue $22,000 + Service Revenue $13,000 - Rent Expense $16,000 = $19,000

A Company Completed the Following Transactions During the Month of October