The financial statements for Joseph Corporation contained the following information. Accounts receivable $ 5,000 Sales revenue 75,000

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The financial statements for Joseph Corporation contained the following information.

Accounts receivable $ 5,000 Sales revenue 75,000 Cash 15,000 Salaries and wages expense 20,000 Rent expense 10,000 What was Joseph Corporation’s net income?

(a) $60,000.

(c) $65,000.

(b) $15,000.

(d) $45,000.

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Accounting Tools For Business Decision Making

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Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 07, 2024 01:17 AM

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The financial statements for Joseph Corporation contained the following information. Accounts receivable $ 5,000 Sales revenue 75,000

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Accounting Tools For Business Decision Making

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