Question

Consider the overall effects on Ready Maid Cleaning Service from selling and performing services on account for $ 6,520 and paying expenses totaling $ 3,870.
What is Ready Maid Cleaning​ Service's net income or net​ loss?

Answer 1

Answer:

Ready Maid Cleaning​ Service's net income $ 2,380.

Explanation:

This problem requires us to calculate the net profit or loss. The revenue and expenses are given in the question. The profit/loss is difference between revenue and expense. Profit/loss is calculated below.

Profit/ (loss)= Revenue - expense = 6,520 - 3,870 = $ 2,380