Practice expenses for the month of June are $8,500. Revenue for the same month is $16,180. The practice has total assets of $283,000 and liabilities of $55,000. What is the net income for the practice for the month of June?

Question

Quizplus · Accepted Answer

Net income is calculated by subtracting expenses from revenue. For June, the net income is $16,180 (revenue) - $8,500 (expenses) = $7,680.

Practice Expenses for the Month of June Are $8,500