Given below are several accounts from Cunningham, Inc.'s trial balance at December 31, 2004. Sales Revenue $24,000 $ 4,850 4,000 Accounts Payable 600 Dividends 750 950 Fees Collected in Advance 400 1,550 Supplies 500 2,000 Cash 1,150 Wages Expense 1,600 Cost of Goods Sold 6,000 What is the net income for the year ended December 31, 2004? Select one: a. $950 b. $2,100 c. $1,350 d. $1,700 4,500 2,800 12,500 Accounts Receivable Rent Expense Interest Revenue Depreciation Expense Supplies Expense Prepaid Rent Wages Payable Retained Earnings, Jan. 1, 2004
Given below are several accounts from Cunningham, Inc.'s trial balance at December 31, 2004. Sales Revenue $24,000 $ 4,850 4,000 Accounts Payable 600 Dividends 750 950 Fees Collected in Advance 400 1,550 Supplies 500 2,000 Cash 1,150 Wages Expense 1,600 Cost of Goods Sold 6,000 What is the net income for the year ended December 31, 2004? Select one: a. $950 b. $2,100 c. $1,350 d. $1,700 4,500 2,800 12,500 Accounts Receivable Rent Expense Interest Revenue Depreciation Expense Supplies Expense Prepaid Rent Wages Payable Retained Earnings, Jan. 1, 2004
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Qd 225.
Transcribed Image Text:Given below are several accounts from Cunningham, Inc.'s trial balance at December 31, 2004.
Sales Revenue
$24,000
Accounts Payable
600
Dividends
750
Fees Collected in Advance
400
Supplies
500
Cash
Wages Expense
Cost of Goods Sold
Select one:
4,500
2,800
12,500
a. $950
b. $2,100
c. $1,350
d. $1,700
Accounts Receivable
Rent Expense
Interest Revenue
What is the net income for the year ended December 31, 2004?
Depreciation Expense
Supplies Expense
Prepaid Rent
Wages Payable
Retained Earnings, Jan. 1, 2004
$ 4,850
4,000
950
1,550
2,000
1,150
1,600
6,000
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