BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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John Keneth’s Barber Shop started the year with total assets of $60, 000 and total liabilities of $40, 000. During the year the business recorded $100, 000 in car repair revenues, $55, 000 in expenses, and dividends of $10, 000. The net income reported by John Keneth’s Barber Shop for the year was ____
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$45, 000
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$100, 000
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$90, 000
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$35, 000
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Explanation:
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