Business, 20.05.2020 07:59 ayoismeisalex

Regent Plumbing Company provides plumbing services. The company is a sole proprietorship. Selected transactions of Regent Plumbing Company are described as follows: Sharon Regent, the owner, contributed $6,000 cash in exchange for capital. Paid $4,000 cash for equipment to be used for plumbing repairs. Borrowed $10,000 from a local bank and deposited the money in the checking account. Paid $700 rent for the year. Paid $200 cash for plumbing supplies to be used next year. Completed a plumbing repair project for a local lawyer and received $3,000 cash. How much is the net income for the year ?

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Regent Plumbing Company provides plumbing services. The company is a sole proprietorship. Selected t...

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