Use the Following Information for Questions
O' Hara Company

question 203

Multiple Choice

Use the following information for questions
O' Hara Company began operations on December 1, 2011.Presented below is selected information related to O' Hara Company at December 31, 2011. $$\begin{array} { l r l r } \text { Office Equipment } & £ 40,000 & \text { Utilities Expense } & £ 6,000 \\\text { Cash } & 14,000 & \text { Accounts Receivable } & 27,000 \\\text { Service Revenue } & 108,000 & \text { Wages Expense } & 47,000 \\\text { Rent Expense } & 13,000 & \text { Notes Payable } & 10,000 \\\text { Accounts Payable } & 16,000 & \text { Dividends } & 15,000 \\\text { Share Capital } & 28,000 & &\end{array}$$
-Net income for the month of December is

• A) \(£ 27,000\)
• B) \(£ 42,000\)
• C) \(£ 56,000\)
• D) \(£ 66,000\)

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Definitions:

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