Acme, Inc. washed 130 cars this past month. They charge $10 per car for a wash. The company's only expenses during this month were $93 utilities/water, $300 wages and $41 for soap. The wages were paid during the month, but the utility bill and soap bills were not. What is Acme's income or loss for this month?

Question

Quizplus · Accepted Answer

Acme, Inc.'s income for the month can be calculated by subtracting total expenses from total revenue. Total revenue from washing cars is 130 cars * $10/car = $1,300. Total expenses are $93 (utilities) + $300 (wages) + $41 (soap) = $434. Therefore, the net income is $1,300 - $434 = $866.

Acme, Inc Washed 130 Cars This Past Month