Dena, Inc Began Operations During 2018

question 105

Essay

Dena, Inc. began operations during 2018. During January of 2018, the following transactions occurred:
.Received $80,000 from shareholders as initial investments
.Received cash of $55,000 for services performed during January
.Billed customers an additional $15,000 for services performed during January
.Borrowed $12,000 from NationsBank Company, and signed a one-year note payable
.Paid rent in the amount of $5,000 for January
.Paid dividends in January amounting to $8,000
.Paid wages of $35,000 for January
How much Net Income should Dena, Inc. report for January?

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Definitions:

Proteins

Large molecules made up of amino acids that perform a variety of functions in the body, such as catalyzing metabolic reactions and supporting cell structure.

Alleles

Variants of a gene that arise by mutation and are found at the same place on a chromosome.

Heterozygous

Having two different alleles for the same trait.

Genetic Mutations

Permanent alterations in the DNA sequence that make up a gene, resulting in the gene functioning differently than normal.