Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

14 Martha Innocenzi began Innocenzi Outfitters by investing 75,000 of cash in the business. The company recorded revenues of 555,000, expenses of 410,000, and had

image text in transcribed
14 Martha Innocenzi began Innocenzi Outfitters by investing 75,000 of cash in the business. The company recorded revenues of 555,000, expenses of 410,000, and had owner drawings of 30,000. What was innocenzi's net income for tfe year? Select one: O a. 190,000. O b. f 175,000 O C. 115,000. O d. 145,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sm Auditing Integrated Appr Review Copy

Authors: ARENS LO, EBBECKE

7th Edition

0135914396, 978-0135914397

More Books

Students also viewed these Accounting questions

Question

General Purpose of Your Speech Analyzing Your Audience

Answered: 1 week ago

Question

Ethical Speaking: Taking Responsibility for Your Speech?

Answered: 1 week ago