The Daniel Insurance Agency reported revenues of $29,000 and expenses of $31,000 for the current period....

The Daniel Insurance Agency reported revenues of $29,000 and expenses of $31,000 for the current period. What was the final figure reported on the company’s income statement?

Multiple Choice

$2,000 net loss
$2,000 net income
$29,000 net income
$31,000 net loss

Solutions

Expert Solution

Answer : Total Revenue - Total expense = Net profit or Loss

: Revenue $29000- Expense $31000

: Net loss $2000

ekkarill92 answered 2 years ago

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