Martinez Consulting Firm had $250,000 in service revenue for the year. The company's office space normally rents for $4,000 per month, but the landlord reduced it to $3,500 in exchange for monthly financial advisory services. A client provided office furniture with a retail price of $8,000 and a fair market value of $6,000 as payment for consulting services. What is Martinez Consulting Firm's gross income for the year?

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Chapter17: Activity Resource Usage Model And Tactical Decision Making
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Martinez consulting firm had $250,000 solve this accounting questions

Martinez Consulting Firm had $250,000 in service
revenue for the year. The company's office space
normally rents for $4,000 per month, but the landlord
reduced it to $3,500 in exchange for monthly financial
advisory services. A client provided office furniture
with a retail price of $8,000 and a fair market value of
$6,000 as payment for consulting services. What is
Martinez Consulting Firm's gross income for the year?
Transcribed Image Text:Martinez Consulting Firm had $250,000 in service revenue for the year. The company's office space normally rents for $4,000 per month, but the landlord reduced it to $3,500 in exchange for monthly financial advisory services. A client provided office furniture with a retail price of $8,000 and a fair market value of $6,000 as payment for consulting services. What is Martinez Consulting Firm's gross income for the year?
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