A company has \$4,500 in its Revenue account at the end of a period. The expenses are as follows: Rent, \$750; Utilities, \$150; Salaries, \$2,400; Insurance, \$225. The net income (loss) for the period is A. \$3,600. B. (\$2,100). C. \$975. D. (\$1,425).
A company has \$4,500 in its Revenue account at the end of a period. The expenses are as follows: Rent, \$750; Utilities, \$150; Salaries, \$2,400; Insurance, \$225. The net income for the period is \$975. \$4,500 - (750 + 150 + 2,400 + 225) = 4,500 - 3,525 = 975
Updated 2/12/2015 5:02:32 PM
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A company has \$4,500 in its Revenue account at the end of a period. The expenses are as follows: Rent, \$750; Utilities, \$150; Salaries, \$2,400; Insurance, \$225. The net income for the period is \$975.
\$4,500 - (750 + 150 + 2,400 + 225) = 4,500 - 3,525 = 975

Office Supplies had a normal starting balance of \$75. There were debit postings of \$80 and credit postings of \$60 during the month. The ending balance is a A. \$55 debit. B. \$55 credit. C. \$95 debit. D. \$95 credit.
Updated 2/12/2015 4:59:54 PM
Office Supplies had a normal starting balance of \$75. There were debit postings of \$80 and credit postings of \$60 during the month. The ending balance is a \$95 debit.
75+80-60=95
29,292,060
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