The following items appeared on a company's December 31 work sheet for the current period.Based on the following information,what is net income for the current period?

A) $1,400
B) $1,855
C) $1,905
D) $2,060
E) $4,670

Question

The following items appeared on a company's December 31 work sheet for the current period.Based on the following information,what is net income for the current period?

A) $1,400 
B) $1,855 
C) $1,905 
D) $2,060 
E) $4,670

Quizplus · Accepted Answer

$5,850 + 375 + $300 = $6,525 revenues
$1,200 + $2,400 + $315 +$345 + $150 + $70 + $190 = $4,670 expenses
$6,525 - $4,670 = $1,855 net income

The Following Items Appeared on a Company's December 31 Work