ala@sti X| Unit 2 Lab Quiz - AC114 Accou XLab QuizQuestion 6 of 25ation.wiley.com/was/ui/v2/assessment-player/index.html?launchId=4b1dc98f-a2c8-4982-889e-4213278d957d#/question/5View PoliciesO $115000.O $145000.O $190000.O $175000.WP NWP Assessment Player Ul Ap XJSave for LaterAC114: Accounting Ix → 114_u2activityCurrent Attempt in ProgressMartha Pharoah Ito began the Pharoah Company by investing $75000 of cash in the business. The company recorded revenues of$555000, expenses of $410000, and had owner drawings of $30000. What was Pharoah's net income for the year?MacBook Air-/1 = :Attempts: 0 of 1 used Submit AnswerX

Net income, also known as profit or net earnings, is the amount of money a business or individual…

Answered: Martha Pharoah Ito began the Pharoah…

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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Martha Pharoah Ito began the Pharoah Company by investing $75000 of cash in the business. The company recorded revenues of $555000, expenses of $410000, and had owner drawings of $30000. What was Pharoah's net income for the year?