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

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11-01-2017
Business

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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 (loss) for the period is

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MissPhiladelphia MissPhiladelphia · Answer 1 · 2017-01-19T05:09:19+01:00

For the answer to the question above,
Revenue . . . . . . . . . . . . . . . . . . . .4,500

less: Expenses
Rent . . . . . . . .750
utilities . . . . . . 150
Salaries . . . . . .2400
Insurance . . . . .225
(Since you are just in highschool I would assume insurance is expense, because there are insurance that are Payables and not expense)
Total . . . . . . . . . . . . . . . . . . . . . . 3525

Net income . . . . . . . . . . . . . . 975
I hope my answer helped you. feel free to ask more questions. have a nice day!