Hofnim, Inc.had the following account balances on September 30, 2016.What is Hofnim's net income for the month of September? $$\begin{array} { l r }
\text { Accounts Payable } & \$ 9,900 \
\text { Capital Stock } & 15,000 \
\text { Cash } & 19,600 \
\text { Equipment } & 19,100 \
\text { Fees Earned } & 64,000 \
\text { Miscellaneous Expense } & 19,700 \
\text { Rent Expense } & 5,100 \
\text { Retained Earnings } & 5,000 \
\text { Wages Expense } & 16,450
\end{array}$$

Question

Hofnim, Inc.had the following account balances on September 30, 2016.What is Hofnim's net income for the month of September? $$\begin{array} { l r } 
\text { Accounts Payable } & \$ 9,900 \
\text { Capital Stock } & 15,000 \
\text { Cash } & 19,600 \
\text { Equipment } & 19,100 \
\text { Fees Earned } & 64,000 \
\text { Miscellaneous Expense } & 19,700 \
\text { Rent Expense } & 5,100 \
\text { Retained Earnings } & 5,000 \
\text { Wages Expense } & 16,450
\end{array}$$

Quizplus · Accepted Answer

The Answer of Hofnim, Inc.had the following account balances on September 30, 2016.What is Hofnim's net income for the month of September? $$\begin{array} { l r } 
\text { Accounts Payable } & \$ 9,900 \
\text { Capital Stock } & 15,000 \
\text { Cash } & 19,600 \
\text { Equipment } & 19,100 \
\text { Fees Earned } & 64,000 \
\text { Miscellaneous Expense } & 19,700 \
\text { Rent Expense } & 5,100 \
\text { Retained Earnings } & 5,000 \
\text { Wages Expense } & 16,450
\end{array}$$

Hofnim, Inc A) $8,800 B) $22,750 C) $13,260 D) $17,750

Hofnim, Inc A) $8,800
B) $22,750
C) $13,260
D) $17,750