Question
A company has the following account balances: revenues$127,000; salary payable$7,000; cost of goods sold$50,000; dividends paid$3,000; rent expense$12,000; gain on sale of land$4,000; accounts receivable$13,000;
A company has the following account balances: revenues$127,000; salary payable$7,000; cost of goods sold$50,000; dividends paid$3,000; rent expense$12,000; gain on sale of land$4,000; accounts receivable$13,000; cash$15,000, and advertising expense$8,000. What is net income for the period?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Weygandt Kimmel Kieso
10th Edition
0470646462, 978-0470646465
