Asked by Vanessa Grossman on May 21, 2024
Verified
The net income for December would be:
A) $19,900
B) $38,700
C) $40,900
D) $13,700
Net Income
The total profit or loss of a company after all expenses, including taxes and interest, have been deducted from total revenue.
December
The twelfth and final month of the year in the Gregorian calendar, frequently associated with end-of-year summaries and holiday seasons.
- Calculate net income and its components.
Verified Answer
RM
Robin MedinaMay 22, 2024
Final Answer :
A
Explanation :
The net income for December can be calculated by subtracting the total expenses (given as $50,100) from the total sales revenue (given as $70,000). Therefore, $70,000 - $50,100 = $19,900. Choice A is the correct answer.
Explanation :
Budgeted Income Statement 
Learning Objectives
- Calculate net income and its components.
Related questions
Della's Donuts Owner Made Investments of $50,000 and Withdrawals of ...
During August 2016 Shelby's Supply Store Generated Revenues of $65000 ...
After Gross Profit Is Calculated Operating Expenses Are Deducted to ...
Net Income Is Gross Profit Less ...
Which of the Following Expressions Is Incorrect ...