Total service income is P 300,000 and deferred revenue is P30,000. Operating expenses include Salaries P50,000, Taxes and licenses P5,000, Rent P20,000 and miscellaneous expense of P40,000. How much is the net income for the period. P215,000 not given P155,000 P185,000

Total service income is P 300,000 and deferred revenue is P30,000. Operating expenses include Salaries P50,000, Taxes and licenses P5,000, Rent P20,000 and miscellaneous expense of P40,000. How much is the net income for the period. P215,000 not given P155,000 P185,000

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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