contestada

which of the following transactions would cause net income for the period to decrease? a. paid $2,500 cash for raw material cost. b. purchased $8,000 of merchandise inventory. c. recorded $5,000 of depreciation on production equipment. d. used $2,000 of office supplies.

Respuesta :

The transaction that will cause net income to decrease is used $2000 of office supplies (Option D).

What is net income?

Net income, in both business and accounting, is an entity's revenue less costs, depreciation and amortization, interest, and taxes for a specific accounting period.

The term "total expenditure or revenue" encircles a variety of things, like taxes, business expenses, interest payments, fees, and depreciation. The calculation of shareholders' earnings per share is aided by net .

Net income is calculated by taking out all expenses from total revenue/sales gained. The formula for net is: Net income = Total revenue - total expenses.

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