Determine the net income (net loss) of a company for which the following information is available for the month of September.
A)$404,000.
B)($4,000).
C)$162,000.
D)$4,000.
E)($204,000).

Question

Determine the net income (net loss) of a company for which the following information is available for the month of September. 
A)$404,000. 
B)($4,000). 
C)$162,000. 
D)$4,000. 
E)($204,000).

Quizplus · Accepted Answer

The net income (net loss) for the month of September is calculated by subtracting the total expenses from the total revenue. 
Total revenue = $400,000 
Total expenses = $404,000 
Net income (loss) = Total revenue - Total expenses 
= $400,000 - $404,000 
= ($4,000) 
Therefore, the net income for the month of September is a loss of ($4,000), which corresponds to option B.

Determine the Net Income (Net Loss) of a Company for Which