Ask Question

Tadeo, Inc. had the following account balances at September 30, 2015. What is Tadeo's net income for the month of September? Accounts Payable $ 5,800 Capital Stock 12,000 Cash 15,500 Equipment 14,300 Fees Earned 53,000 Miscellaneous Expense 16,800 Rent Expense 4,000 Retained Earnings 7,000 Wages Expense 17,850

+3
Answers (1)
  1. 27 July, 02:03
    0
    The Tadeo's net income for the month of September is $14,350

    Explanation:

    Net income : The net income show the difference between the revenue and expenses

    In mathematically,

    Net income = Revenues - expenses

    In this question

    Revenues is fees earned while expenses is Miscellaneous Expense, Rent Expense, and Wages Expense

    So

    Revenue = $53,000

    And, Expenses = $16,800 + $4,000 + $17,850 = $38,650

    Hence, the net income is = $53,000 - $38,650 = $14,350

    Thus, the Tadeo's net income for the month of September is $14,350
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Tadeo, Inc. had the following account balances at September 30, 2015. What is Tadeo's net income for the month of September? Accounts ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers