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Which is a revenue generating activity

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Reference no: EM132999206

The following information was taken from the records of Thompson Corporation for the year ended December 31, 2013:

Dividends paid $ 12,800

Service revenue 90,500

Accounts payable 139,750

Capital stock 378,750

Total expenses 67,000

Retained earnings (at 1/1/2013) 43,400

Problem 1: The net income at December 31, 2013 was

a. $23,500

b. $54,100

c. $43,400

d. $72,750

Problem 2: Which of the following is a revenue generating activity?

a. Borrowing money from a bank.

b. Paying rent.

c. Service is provided.

d. Issuing capital stock.

Reference no: EM132999206

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