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Which formula correctly calculates net income? BTC Trial Balance December 31 Debit Credit 4 Cash $5,700 5 Accounts receivable 1,400 6 Note receivable 11.100 7
Which formula correctly calculates net income? BTC Trial Balance December 31 Debit Credit 4 Cash $5,700 5 Accounts receivable 1,400 6 Note receivable 11.100 7 Prepaid services 3,800 8 Office equipment 27,400 9 Accounts payable $7,600 10 Unearned ticket revenue 4,400 11 Owner, Capital 37,000 12 Owner, Withdrawals 1,600 13 Ticket revenue 7,200 14 Rental revenue 1,700 15 Salaries expense 2,800 16 Utilities expense 2,400 17 Rent expense 1,700 18 Totals $57,900 $57,900 19 Multiple Choice =SUM(C13:C14)-SUM(12:B17) =SUM(15:017)-SUM(C13:C14) =SUM(B13:C17) =SUM(C13:C14)-SUM(15:017)
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