Ask Question
17 May, 22:07

Finney Company began the year with retained earnings of $100,000. During 2022, the company issued $80,000 of common stock for cash. The company recorded revenues of $740,000, expenses of $640,000, and paid dividends of $40,000. What was Finney's net income for the year 2022?

+5
Answers (1)
  1. 18 May, 00:44
    0
    What was Finney's net income for the year 2022?

    Net Income 100000

    Explanation:

    Reveneus 740000

    Expenses 640000

    Net Income 100000

    Net income, also called net profit, is a calculation that measures the amount of total revenues that exceed total expenses. It other words, it shows how much revenues are left over after all expenses have been paid.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Finney Company began the year with retained earnings of $100,000. During 2022, the company issued $80,000 of common stock for cash. The ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers