Seidner Company had the following account balances at the end of the first year of operations: What is the amount of net income or net loss for the year?
A)$22,000
B)$31,000
C)$63,000
D)$72,000

Question

Seidner Company had the following account balances at the end of the first year of operations:  What is the amount of net income or net loss for the year?
A)$22,000 
B)$31,000 
C)$63,000 
D)$72,000

Quizplus · Accepted Answer

Revenues $103,000 - Salaries Expense $16,000 - Utilities Expense $15,000 - Advertising Expense $9,000 = Net Income $63,000

Seidner Company Had the Following Account Balances at the End