Given the following 2024 information for the Pinto Company:Decrease in Wages PayableOperating ExpensesTotal Cash paid for expenses12/31/24 Prepaid Insurance$ 400Select one:$5,100a. $500b. $1,750c. $2,700d. $300e. $1,900$4,000Operating Expenses and cash paid for expenses consisted of amounts for insurance and wagesonly.$1,200The 1/1/24 balance of Prepaid Insurance was:

Prepaid expense means future expenses that are paid in advance. Initially, Prepaid expense is…

Given the following 2024 information for the Pinto Company: Decrease in Wages Payable Operating Expenses Total Cash paid for expenses 12/31/24 Prepaid Insurance $ 400 $5,100 Select one: $4,000 Operating Expenses and cash paid for expenses consisted of amounts for insurance and wages only. a. $500 b. $1,750 c. $2,700 d. $300 e. $1,900 $1,200 The 1/1/24 balance of Prepaid Insurance was:

Given the following 2024 information for the Pinto Company: Decrease in Wages Payable Operating Expenses Total Cash paid for expenses 12/31/24 Prepaid Insurance $ 400 $5,100 Select one: $4,000 Operating Expenses and cash paid for expenses consisted of amounts for insurance and wages only. a. $500 b. $1,750 c. $2,700 d. $300 e. $1,900 $1,200 The 1/1/24 balance of Prepaid Insurance was:

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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please provide solutions & formula
Net income for the year 2022
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25 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 - Accounts Receivable - BD2000 Equipment BD6000 Prepaid Rent BD4000 - Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700 - Furniture BD10000 - Use the previous information to question 25 to question 28: Required: Compute the amount and show solution steps of: 1- Total Revenues 2- Total Expenses *
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Please explain why the total is 129960?
Please do not give solution in image format thanku