Question
Seidner Company had the following account balances at the end of the first year of operations: Revenues $106,000 Salaries Expense $13,000 Dividends $12,000 Utilities Expense
Seidner Company had the following account balances at the end of the first year of operations:
| Revenues | $106,000 |
| Salaries Expense | $13,000 |
| Dividends | $12,000 |
| Utilities Expense | $13,000 |
| Advertising Expense | $8,000 |
| Shortterm Investments | $20,000 |
| Cash | $40,000 |
| Land | $50,000 |
| Common Stock | $50,000 |
What is the amount of net income or net loss for the year?
A.$40,000
B.$80,000
C. $72,000
D.$ 32,000
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Concept Audits A Philosophical Method
Authors: Nicholas Rescher
1st Edition
1498540392, 978-1498540391
