ABC Services Reported the Following Transactions for September,2013

question 56

Essay

ABC Services reported the following transactions for September,2013.
A.The owner opened the business with a capital contribution of $23,500 cash.It was credited to Capital.
B.The business purchased office equipment for $11,500.The business paid $2,500 down and put the balance on a note payable.
C.The business paid a utility bill for $980 cash.
D.The business paid $2,000 cash for September rent.
E.The business had sales of $15,000 in September.Of these sales,60% were cash sales,and the balance was credit sales.
F.The business paid $9,700 cash for office furniture.
What is the net income for September,2013?
A)$12,020
B)$9,000
C)$6,020
D)$5,300

• A)$12,020
• B)$9,000
• C)$6,020
• D)$5,300

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Definitions:

Entry

The act of entering or the point at which one gains access to a place, organization, or system.

Content Tactics

Strategies used to create, publish, and manage content in order to achieve specific business and marketing goals.

Socialization Outcomes

The results or effects of the process by which an individual learns and incorporates the norms and values of a group or society.

Debasement

The act of lowering in rank, dignity, or significance.