A Company Completed the Following Transactions During the Month of October

question 119

Multiple Choice

A company completed the following transactions during the month of October: I. Purchased office supplies on account, $4,000.
II. Provided services for cash, $10,000.
III. Provided services on account, $12,000.
IV. Collected cash from a customer on account $7,000.
V. Paid the monthly rent of $3,000.
What was the company's net income for the month?

• A) $0
• B) $10,000
• C) $19,000
• D) $22,000

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Definitions:

Affluenza

A controversial term used to describe a condition arising from the desire to be wealthy or the stress of managing wealth, often leading to psychological problems.

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