Selected Transaction Data of a Business for September Are Summarized

question 100

Essay

Selected transaction data of a business for September are summarized below. Determine the following amounts for September: (a) total revenue, (b) total expenses, (c) net income.
Service sales charged to customers on account during September$33,000
Cash received from cash customers for services performed in September28,000
Cash received from customers on account during September:Services performed and charged to customers prior to September13,000
Services performed and charged to customers during September18,000
Expenses incurred prior to September and paid during September
6,500Expenses incurred and paid in September36,250
Expenses incurred in September but not paid in September5,000
Expenses for supplies used and insurance
(not included above)applicable to September2,000

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Definitions:

Operating System

The basic software that handles the administration of computer hardware and software resources while supplying general services for computer software.

Internal Hard Drive

A storage device located inside a computer that stores all the software, data, and information of the system.

Launchpad Button

An interface element that provides quick access to a collection of applications or tools in a user's device or operating system.

User Account

A dedicated and authenticated access granted to an individual user to a computer, network, or software system, typically requiring a username and password.