Charlie's Chocolates' owner made investments of $50,000 and withdrawals of $20,000.The company has revenues of $83,000 and expenses of $64,000.Calculate its net income.

Question

Quizplus · Accepted Answer

To calculate the net income, we need to subtract the total expenses from the total revenues. 
Total Revenues = $83,000 
Total Expenses = $64,000 
Net Income = Total Revenues - Total Expenses 
Net Income = $83,000 - $64,000 
Net Income = $19,000

However, we also need to take into account the investments and withdrawals made by the owner. 
Investments = $50,000 
Withdrawals = $20,000

Net Income = $19,000 + $50,000 - $20,000 
Net Income = $49,000

Therefore, the correct answer is D) $49,000.

Charlie's Chocolates' Owner Made Investments of $50,000 and Withdrawals of $20,000.The