Revenue: Service revenue Expenses: Income Statement For the Month Ended March 31, 2018 Salaries expense Rent...

  

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Revenue: Service revenue Expenses: Income Statement For the Month Ended March 31, 2018 Salaries expense Rent expense Utilities expense Supplies expense Insurance expense Total Expenses Net income 6,500 3,000 1,600 1,000 650 25,000 12,750 12,250 The accounts of Shark Computer Repair, Inc., and their normal balances at March 31, 2018, follow. The accounts are listed in (Click the icon to view the account balances.) Read the requirements. Cash Accounts receivable Supplies Land Building Assets Total assets 16,000 6,500 650 67,000 102,000 192,150 Liabilities Accounts payable Notes payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Requirement 3. Was March a profitable month for Shark Computer Repair, Inc? Why or why not? a profitable month as apparent from the Choose from any list or enter any number in the input fields and then continue to the next question. 4,500 79,000 83,500 94,300 14,350 108,650 192,150 Revenue: Service revenue Expenses: Income Statement For the Month Ended March 31, 2018 Salaries expense Rent expense Utilities expense Supplies expense Insurance expense Total Expenses Net income 6,500 3,000 1,600 1,000 650 25,000 12,750 12,250 The accounts of Shark Computer Repair, Inc., and their normal balances at March 31, 2018, follow. The accounts are listed in (Click the icon to view the account balances.) Read the requirements. Cash Accounts receivable Supplies Land Building Assets Total assets 16,000 6,500 650 67,000 102,000 192,150 Liabilities Accounts payable Notes payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Requirement 3. Was March a profitable month for Shark Computer Repair, Inc? Why or why not? a profitable month as apparent from the Choose from any list or enter any number in the input fields and then continue to the next question. 4,500 79,000 83,500 94,300 14,350 108,650 192,150

Answer rating: 100% (QA)

Answer March was a profitable month as apparent from the Income Statement for t... View the full answer