Question
1.The following information was taken from the records of Thompson Corporation for the year ended December 31, 2013: Dividends paid$ 12,800 Service revenue90,500 Accounts payable
1.The following information was taken from the records of Thompson Corporation for the year ended December 31, 2013:
Dividends paid$ 12,800
Service revenue90,500
Accounts payable 139,750
Capital stock 378,750
Total expenses67,000
Retained earnings (at 1/1/2013)43,400
The net income at December 31, 2013 was
a.$23,500
b.$54,100
c.$43,400
d.$72,750
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Management Accounting
Authors: Anthony A Atkinson, Robert S Kaplan
5th Edition
136005314, 978-0136005315
