During May, Brunhilde Company earned revenue of €53,000, incurred expenses of €34,000, of which €24,000 were on account, and paid dividends of €8,000.Net income (loss) for the month is

Question

Quizplus · Accepted Answer

Revenue earned: €53,000
Expenses incurred: €34,000 (out of which €24,000 were on account, so €10,000 were paid in cash)
Net Income/Loss = Revenue - Expenses - Dividends

Net Income/Loss = €53,000 - €34,000 - €8,000 = €11,000

Therefore, the correct answer is C) €19,000.

During May, Brunhilde Company Earned Revenue of €53,000, Incurred Expenses