Picture Gallery is dedicated to organizing weddings and graduation parties. The capital account balance was $18,000 as of December 31, 2020. On December 31, 2011, the company's accounting records show the following balances: Insurance Expense 9,000 Accounts Receivable 11,000 Cash 15,000 Note Payable 15,000 Accounts payable 9,000 Net profit? Advertising Expense 4,000 Salary Expenses 20,000 Service Income 72,000 Equipment 70,000 Owner's Withdrawals 16,000 Owner's Investments 31,000 Taking into account the information presented, what is Picture Gallery's period profit?

Answer rating: 100% (QA)

Para calcular la utilidad del perodo de Picture Gallery podemos usar la ecuacin co... View the full answer