Best Plumbing Company offers plumbing services. Selected transactions of Best Plumbing Company are as follows: a) Received $9,000 cash contribution

Best Plumbing Company offers plumbing services. Selected transactions of Best Plumbing Company are as follows: a) Received $9,000 cash contribution

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Best Plumbing Company offers plumbing services. Selected transactions of Best Plumbing Company are as follows: a) Received $9,000 cash contribution
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Best Plumbing Company offers plumbing services.┬áSelected transactions of Best Plumbing Company are as follows:a) Received $9,000 cash contribution from owner June Sharon.b) Paid $6,000 in cash for equipment to be used in plumbing repairs.c) Borrowed $9,000 from a local bank and deposited the money in a checking account.d) Paid $800 in rent for the year.e) Paid $200 in cash for plumbing supplies to be used next year.f) Completed a plumbing repair project for a local attorney and received $6,000 in cash.Calculate net income.┬áLet’s say $200 of plumbing supplies remain.The following transactions for March have been logged and posted to the appropriate accounts.March 1 The business received a $10,000 cash contribution from the owner.March 2 He paid the first month’s rent of $800.March 3 purchased equipment by paying $4,000 in cash and issuing a promissory note payable for $6,000.March 4 purchased office supplies for $500 in cash.March 5 A client has been invoiced for $14,000 of completed design services.6 March Received $6,000 for previously recorded services.What is the ending balance in the Service Income account?

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Net income Cash contribution from owner 9 000 Cash received for p
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