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Acme,IncWashed 100 Cars This Past Month

Question 119

Multiple Choice

Acme,Inc.washed 100 cars this past month.They charge $7 per car for a wash.The company's only expenses during this month were $83 utilities/water,$300 wages and $31 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?


A) It is impossible to calculate from the given information,because the amount of revenue received in cash is not known.
B) $400 net income
C) $317 net income
D) $286 net income

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