Question

3.34 points Seven of .200 in his drawing account and credit of $165 600 unt ring period, but to the song s have been record Dou the part of Pers Carte hade his capital has credit balance of $150,100 after the closing what was his net income? At the end of the in this c o $130.000 O $13.500 $14,700 $41.700

Answer 1

OPTION: $41700

EXPLANATION:

opening capital + net income - drawing account = closing capital

therefore,

$145600 + net income - $28200 = $159100

therefore,

net income = $159100 - $145600 + $28200

= $41700