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Skyler organized Beneke Fabricators Inc. on June 1, 2022. The following transactions occurred
during June: a. Skyler contributed $40,000 cash in exchange for common stock b. Beneke
Fabricators Inc. received $15,000 in fees from clients c. Beneke Fabricators Inc. bought
equipment for $6,000 cash d. Beneke Fabricators Inc. incurrred the following expenses: rent, $8,
500; wages $3,500; depreciation; $100 e. Beneke Fabricators Inc. paid Skyler a $1,500 cash
dividend What is Beneke Fabricators Inc.'s net income (loss) for the month ending June 30, 2022?
($3,100) $2,900 $1,500 $1,400

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Skyler organized Beneke Fabricators Inc on June 1 2022 Th.pdf

  • 1. Skyler organized Beneke Fabricators Inc. on June 1, 2022. The following transactions occurred during June: a. Skyler contributed $40,000 cash in exchange for common stock b. Beneke Fabricators Inc. received $15,000 in fees from clients c. Beneke Fabricators Inc. bought equipment for $6,000 cash d. Beneke Fabricators Inc. incurrred the following expenses: rent, $8, 500; wages $3,500; depreciation; $100 e. Beneke Fabricators Inc. paid Skyler a $1,500 cash dividend What is Beneke Fabricators Inc.'s net income (loss) for the month ending June 30, 2022? ($3,100) $2,900 $1,500 $1,400