Example 4.1
The following information applies to the following questions. The accountant for Big Stores has compiled the following information about the business and its accounts:
$$\begin{array} { l r l r }
\text { Cash } & \$ 1000 & \text { Inventory } & \$ 10000 \
\text { Revenues } & 5000 & \text { Expenses } & 3000 \
\text { Accounts Payable } & 3000 & \text { Equipment } & 15000 \
\text { Wages Payable } & 2000 & \text { Notes payable } & 12000
\end{array}$$
-Refer to Example 4.1. How much net income did Big Stores have for the year?

Question

Example 4.1
The following information applies to the following questions. The accountant for Big Stores has compiled the following information about the business and its accounts:
 $$\begin{array} { l r l r } 
\text { Cash } & \$ 1000 & \text { Inventory } & \$ 10000 \
\text { Revenues } & 5000 & \text { Expenses } & 3000 \
\text { Accounts Payable } & 3000 & \text { Equipment } & 15000 \
\text { Wages Payable } & 2000 & \text { Notes payable } & 12000
\end{array}$$
-Refer to Example 4.1. How much net income did Big Stores have for the year?

Quizplus · Accepted Answer

The Answer of Example 4.1
The following information applies to the following questions. The accountant for Big Stores has compiled the following information about the business and its accounts:
 $$\begin{array} { l r l r } 
\text { Cash } & \$ 1000 & \text { Inventory } & \$ 10000 \
\text { Revenues } & 5000 & \text { Expenses } & 3000 \
\text { Accounts Payable } & 3000 & \text { Equipment } & 15000 \
\text { Wages Payable } & 2000 & \text { Notes payable } & 12000
\end{array}$$
-Refer to Example 4.1. How much net income did Big Stores have for the year?

Example 41 the Following Information Applies to the Following Questions

Example 41
the Following Information Applies to the Following Questions