The following accounts were taken from the Adjusted Trial Balance columns of the work sheet: Net income for the period is
A) $3,200
B) $12,100
C) $17,400
D) $8,900

Name: The following accounts were taken from the Adjusted Trial Balance columns of the work sheet: Net income for the period is A) $3,200 B) $12,100 C) $17,400 D) $8,900
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Question

The following accounts were taken from the Adjusted Trial Balance columns of the work sheet:  Net income for the period is
A) $3,200 
B) $12,100 
C) $17,400 
D) $8,900

Quizplus · Accepted Answer

Net income can be calculated by subtracting the total of expenses ($62,900) from the total of revenues ($75,000), which equals $12,100.

The Following Accounts Were Taken from the Adjusted Trial Balance