Newton Corporation Entered into the Following Transactions During Its First

question 58

Multiple Choice

Newton Corporation entered into the following transactions during its first year of operations. (Assume all transactions involve cash.)
1) Acquired $2,000 of capital from the owners.
2) Purchased $600 of direct raw materials.
3) Used $400 of these direct raw materials in the production process.
4) Paid production workers $800 cash.
5) Paid $400 for manufacturing overhead.
6) Started and completed 200 units of inventory.
7) Sold 50 units at a price of $12 each.
"8) Paid $80 for selling and administrative expenses.
The amount of net income for the year was:"

• A) $100.
• B) $75.
• C) $50.
• D) $120.

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Definitions:

Nutritional Assessment

A comprehensive evaluation of an individual's dietary intake and nutrition status to identify nutritional needs and develop a plan.

Vegan Diet

A diet that excludes all animal products, including meat, dairy, and eggs, focusing on plant-based foods.

Nutrients

Substances obtained from food that are essential for the maintenance of bodily functions and growth, including vitamins, minerals, carbohydrates, proteins, and fats.

Supplements

Products taken orally that contain dietary ingredients aimed at supplementing the diet, such as vitamins, minerals, herbs, or other nutrients.