Springer Corporation Had the Following Transactions in August: Earned $2,000

question 220

Multiple Choice

Springer Corporation had the following transactions in August: Earned $2,000 of revenues on account; collected $4,000 from a customer for services provided last month; incurred $600 of repair expense and paid cash; paid $200 for rent that it owed from the previous month.
What is the net income in August?

• A) $600
• B) $4,000
• C) $5,400
• D) $1,400

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Definitions:

Racial Identity

An individual's sense of self based on their perceived racial or ethnic group membership.

Indian American Father

A male parent of Indian descent residing in the United States, who may face cultural and integration experiences unique to the Indian-American community.

Chaste

Referring to abstaining from extramarital, or from all, sexual intercourse; also connotes purity.

Sexual Practices

The varied behaviors and activities that individuals engage in related to sexuality and sexual expression.