Did aling ana earn a net income or incur net loss for period

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Problem 1: During September, Aling Ana's Convenience store had the following transactions involving revenues and expenses: Did Aling Ana earn a net income or incur a net loss for the period? What was the amount?

Paid Php 2,400 for utilities

Sales for Php8,500 in cash

Paid Php500 for telephone service

Additional Sales for Php3,800

Paid salaries of Php3,650 to store employee

Paid Php700 for office cleaning service

Reference no: EM132995959

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