Davis Company Has the Following Accounts and Balances at the End

question 87

Multiple Choice

Davis Company has the following accounts and balances at the end of the year:
Cash, $1,200
Accounts Receivable, $280
Office Equipment, $3,000
Accounts Payable, $1,400
Income from Services, $3,500
Rent Expense, $670
Salaries Expense, $1,000
R. Davis, Capital at the beginning of the year was $2,050. Rob Davis also withdrew $800 from the company during the year. What is net income for the year?

• A) $1,830
• B) $3,500
• C) $1,030
• D) $5,080

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Definitions:

To-Do List Window

This is an interface feature within project management or personal productivity software that displays pending tasks or reminders to be completed.

Notes Pane

A section in presentation software that allows the user to enter speaker notes or comments for a specific slide.

Record Information

The act of storing data or details about specific events, transactions, or activities for future reference.

Assigned Task

A specific duty or responsibility given to a person or group, often outlined with expected outcomes and completion timelines.