Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 point Aggie Divers, Inc. was started on September 1, 2022. Following are the assets and liabilities of the company on September 30, 2022 and
1 point Aggie Divers, Inc. was started on September 1, 2022. Following are the assets and liabilities of the company on September 30, 2022 and the revenues and expenses for the month of September. Cash $ 8,000 Notes Payable $30,800 Accounts Receivable 7,000 Rent Expense 1,200 Equipment 44,000 Repair Expense 400 Service Revenue 11,200 Supply Expense 2,200 Advertising Expense 500 Insurance Expense 400 Common Stock 45,000 Retained Earnings (Sept. 1) 0 Supplies 1,500 Accounts Payable 2,300 Vehicle 22,400 Dividend 1,700 What is Net Income for the month of September? $14,500 $4,800 $8,200 $6,500 $8,700
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started