The Income Statement for the Month of June, 2011 of Taylor

question 44

Multiple Choice

The income statement for the month of June, 2011 of Taylor Enterprises contains the following information: $\begin{array}{lr}\text { Revenues }&&£7,000\\\text { Expenses: }\\\text { Wages Expense } & £ 2,000 \\\text { Rent Expense } & 1,000 \\\text { Supplies Expense } & 300 \\\text { Advertising Expense } & 200 \\\text { Insurance Expense } & 100\\\text { Total expenses }&&3,600\\\text { Net income (loss) }&&£(3,400) \end{array}$
At June 1, 2011, Taylor reported Retained Earnings of $£ 35,000$ . The company paid no dividends during June. At June 30, 2011, the company will report Retained Earnings of

• A) \( £ 35,000 \).
• B) \( £ 42,000 \).
• C) \( £ 38,400 \).
• D) \( £ 31,600 \).

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Definitions:

Environmental Factors

External elements such as social, political, and ecological influences that can affect an individual's development and behavior.

Genetic Factors

Genetic factors involve the hereditary elements inherited from one's parents that influence various traits and likelihood of developing certain diseases or conditions.

Adoption Studies

Research investigations that compare similarities between adopted children and their adoptive and biological parents to understand genetic and environmental influences.

Biological Parents

The parents who contribute their genetic material to the birth of a child, differing from adoptive or step-parents.