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What is the net income of the business in for year ended

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Reference no: EM132610295

Question - Consider the following transactions from 1 January 20x1 to 31 December 20x1:

I. Owners invested $8,000 cash to begin the business

II. Provided services for cash, $6,000

III. Provided services on account, $4,000

IV. Paid cash for expenses, $7,500

What is the net income of the business in for year ended 31 December 20x1?

a. $2,500

b. $4,500

c. $6,500

d. $10,500

e. None of the above.

 

Reference no: EM132610295

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