Find Net Income Using the Following Transactions

question 61

Multiple Choice

Find net income using the following transactions.
1) Bill Co.paid $2,000 for one month rent
2) Bill Co.paid $1,200 for two weeks wages
3) Bill Co.performed $5,200 in consulting services on account
4) Bill Co billed a customer $1,500 for services performed
5) Bill Co.received $5,200 in payment for item 3
6) Bill Co performed services and immediately collected $2,000
7) Bill Co.paid $500 for advertising in the local paper

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

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Definitions:

Advertising Data

Information collected from various sources regarding the performance, outcomes, and strategies of advertising campaigns.

Point Estimate

The value of a point estimator used in a particular instance as an estimate of a population parameter.

Point Estimate

A single value given as an estimate of a parameter of a population.

Dependent Variable

A variable in statistical modeling and experiments whose value is dependent on that of one or more other variables.