The Income Statement for the Month of June 2016 of Snap

question 10

Multiple Choice

The income statement for the month of June 2016 of Snap Shot Inc. contains the following information: $\begin{array}{lr}\text { Revenues } &&\$7,300 \\\text { Expenses: } & \\\text { Salaries and Wages Expense } & \$ 3,000 \\\text { Rent Expense } & 1,300 \\\text { Advertising Expense } & 700 \\\text { Supplies Expense } & 200 \\\text { Insurance Expense } & 100 \\\quad \text { Total expenses } &&5,300 \\\text { Net income } &&\$2,000\end{array}$ At June 1 2016 Snap Shot reported owner's equity of $36000. The company had no owner drawings during June. At June 30 2016 the company will report owner's equity of

• A) $30700.
• B) $36000.
• C) $38000.
• D) $43300.

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Definitions:

Sleep Apnea

A sleep disorder characterized by pauses in breathing or periods of shallow breathing during sleep.

Snoring

The noisy breathing sound occurring during sleep, caused by the vibration of the respiratory structures due to obstructed air movement.

Sleep Apnea

A condition disrupting normal sleep patterns due to interruptions in breathing or instances of light breathing.

Snoring

The hoarse or harsh sound that occurs when air flows past relaxed tissues in the throat, causing the tissues to vibrate during sleep.