skipper navigation company, inc. trial balance december 31, 2024 account title balance debit credit cash…

skipper navigation company, inc. trial balance december 31, 2024 account title balance debit credit cash $43,000 accounts receivable 6,000 supplies 26,000 equipment 170,000 accounts payable $6,000 note payable 130,000 common stock 40,000 retained reanings 35,000 service revenue 94,000 salary expense 44,000 insurance expense 16,000 total $305,000 $305,000 how much income did skipper navigation company earn in 2024? a. $69,000 b. $34,000 c. $94,000 d. $109,000

skipper navigation company, inc. trial balance december 31, 2024 account title balance debit credit cash $43,000 accounts receivable 6,000 supplies 26,000 equipment 170,000 accounts payable $6,000 note payable 130,000 common stock 40,000 retained reanings 35,000 service revenue 94,000 salary expense 44,000 insurance expense 16,000 total $305,000 $305,000 how much income did skipper navigation company earn in 2024? a. $69,000 b. $34,000 c. $94,000 d. $109,000

Answer

Explanation:

Step1: Identify income - related account

Income is represented by service revenue in this trial - balance.

Step2: Determine income amount

The service revenue amount is $94,000.

Answer:

C. $94,000