Question

Consider the overall effects on Floral Scent Cleaning Service from selling and performing services on account for $ 8 comma 780 and paying expenses totaling $ 4 comma 520. What is Floral Scent Cleaning​ Service's net income or net​ loss?

Answer 1

Net income: $4,260.

Explanation:

We have been given that consider the overall effects on Floral Scent Cleaning Service from selling and performing services on account for $ 8,780 and paying expenses totaling $ 4,520.

`\text{Net income}=\text{Total revenues}-\text{Total expenses}`

`\text{Net income}=\$8,780-\$4,520`

`\text{Net income}=\$4,260`

Since the selling and performing services on account are greater than total expenses, therefore, Floral Scent Cleaning​ Service's net income is $4,260.