Compute Net Income for May Based on the Following Transactions

question 81

Multiple Choice

Compute net income for May based on the following transactions: May 14 Paid $1,200 for two weeks wages.
May 15 Performed $5,200 in consulting services on account.
May 17 Billed a customer $1,500 for services performed May 16.
May 20 Received $5,200 in payment for May 15 transaction.
May 22 Performed services and immediately collected $2,000.
May 31 Paid $500 for advertising in the local paper to take place in June.

• A)$10,200
• B)$ 5,300
• C)$ 8,700
• D)$13,900
• E)$ 7,000

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Definitions:

Limit Setting

The process of establishing boundaries or rules to manage behavior, commonly used in therapy and parenting.

Provocative

Describes actions or behaviors intended to elicit a strong reaction or emotion, often deliberately challenging or controversial.

Avoidant

A tendency to evade or escape facing unpleasant tasks, situations, or interactions out of fear or discomfort.

Schizotypal Personality Disorder

A mental health disorder characterized by severe social anxiety, thought disorder, paranoid ideation, derealization, transient psychosis, and often unconventional beliefs.