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A company had the following amounts at the end of the year: Cash $ 11,200 Income Tax Expense 1,500 Dividends 2,600 Service Revenue 23,500 Prepaid Rent 4,300 Salaries Expense 8,200 Accounts Payable 12,700 36,900 Land

A company had the following amounts at the end of the year: Cash $ 11,200 Income Tax Expense 1,500 Dividends 2,600 Service Revenue 23,500 Prepaid Rent 4,300 Salaries Expense 8,200 Accounts Payable 12,700 36,900 Land

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A compay had the following amounts at the end of the year: Cash $ 11,200 Income Tax Expense 1,500 Dividends 2,600 Service Revenue 23,500 Prepaid Rent 4,300 Salaries Expense 8,200 12,700 Accounts Payable 36,900 Land
Transcribed Image Text:A compay had the following amounts at the end of the year: Cash $ 11,200 Income Tax Expense 1,500 Dividends 2,600 Service Revenue 23,500 Prepaid Rent 4,300 Salaries Expense 8,200 12,700 Accounts Payable 36,900 Land
Land 36,900 What amount would the company report for net income? O $6,900. O $42,300. O $11,200. O $13,800.
Transcribed Image Text:Land 36,900 What amount would the company report for net income? O $6,900. O $42,300. O $11,200. O $13,800.
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