Regent plumbing corporation provides plumbing services. selected transactions of regent plumbing corporation are described as follows:
a) completed a plumbing repair project for a local lawyer and received $3,500 cash. b) paid $5,000 cash for equipment to be used for plumbing repairs. c) borrowed $11,000 from a local bank and deposited the money in the checking account. d) paid $900 rent for the year. e) paid $200 cash for plumbing supplies to be used next year. f) completed a plumbing repair project for a local lawyer and received $3,000 cash. calculate the net income. assume plumbing supplies of $200 are left at the end of the accounting period. a. $700b. $2,100c. $2,800d. $3,000

net income 5,600

Explanation:

a.- service revenue   3,500

b.- it do not affect the net income. Is trading one asset (cash) for another (equipment)

c.- it do not affect the income. It increase a liability (note payable) and an asset (cash)

d.- rent expense          (900)

e.- it do not affect the net income. Is trading one asset (cash) for another (supplies)

f .- service revenue   3,000

net income = revenue - expenses

service revenue 3,500 + 3,000 =  6,500

rent expense                                    (900)

net income                                      5,600

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.