entry for $3,000 70 00 10 000 1006 2. Determine the net income (loss) of a business with the following data: Debit Accounts Receivable Credit Revenue...
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How do you get net profit from this data?

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entry for $3,000
70 00
10 000
1006
2.
Determine the net income (loss) of a business with the following data:
Debit
Accounts Receivable
Credit
Revenue
$1,800
Notes Payable
$5,000
Salary Expense
6,500
1,850
Dividends
1,100
Equipment
22,000
Depreciation Expense
2,200
A. net profit of $2,750
B
net profit of $950
C. net loss of $150
D. net loss of $4,550
3. Zuni's Travel Service purchased $15,000 of office furniture on account. This transaction
would:
A. increase Stockholders' equity by $15,000
ap
B
increase liabilities by $15,000
C. decrease assets by $15,000
15000
change in total assets

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