On December 31,2011,The Bates Company's Revenues Total $300,000 and Expenses

question 72

Multiple Choice

On December 31,2011,The Bates Company's revenues total $300,000 and expenses total $160,000 before consideration of the following:
Accrued wages total $11,000;
Accrued revenues total $36,000;
Depreciation expense is $17,000;
Rental revenue of $9,000 was earned; the rent was prepaid by a tenant and was recorded by Bates as unearned rent revenue;
The income tax rate is 40%.
What is Bates' net income after consideration of the above information?

• A)$94,200
• B)$157,000
• C)$140,000
• D)$88,800

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Definitions:

Axon

A thin, elongated extension of a neuron, or nerve cell, that generally transmits electrical signals away from the cell body of the neuron.

Neuronal Membrane

The lipid bilayer that encloses the cytoplasm of a neuron, crucial for maintaining the ion gradient and enabling the propagation of nerve impulses.

Ions

Charged particles that have either lost or gained electrons, playing critical roles in various biological processes, including nerve impulse transmission and muscle contraction.

Neutral Molecules

Neutral molecules are chemical species without any net electrical charge.