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Lera25 [3.4K]
3 years ago
15

Rescooperate Ice Cream Shop recently analyzed their books. They found that in the past year, they made $100,000 selling ice crea

m and spent $75,000 on supplies and factory space. The remaining $25,000 represents
A. profit.
B. loss.
C. revenue.
D. expense.
Business
1 answer:
kherson [118]3 years ago
7 0

Answer:

A. profit.

Explanation:

We know,

Net Income (profit) = Sales revenue - the cost of goods sold and operating expenses

Here,

The Ice Cream shop made $100,000 on sales revenue. However, the expenses of the shop include supplies and factory space, i.e., rent expense is $75,000.

Therefore, Net Income (profit) = $100,000 - $75,000 = $25,000

Since the sales revenue exceeds the expenses, the company gets a profit. So, <em>option A</em> is the answer.

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Delvig [45]
0.82777 Canadian dollars = 1 US dollars
1 Canadian dollar = (0.82777 /1.000) US dollars
3 Canadian dollars = ((0.82777 /1.000) x 3) = $2.48331
8 0
3 years ago
In 2019, Jonathan pays real estate taxes of $18,000 and New York State income taxes of $17,000. Assuming he itemizes, what deduc
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Explanation:

Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.

The total deduction Jonathan can claim is therefore:

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What is a business cylcle
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8 0
3 years ago
When considering where to export, advantages to managers of focusing on a nation that is already a sizable purchaser of goods co
NNADVOKAT [17]

Answer:

Option "C" is the correct answer to the following statement.

Explanation:

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7 0
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At the beginning of December, ABC Company had $1,500 in supplies on hand. During the month, supplies purchased amounted to $2,90
natta225 [31]

Answer and Explanation:

The adjusting entry is as follows:

Supplies expense Dr $2,200

      To Supplies $2,200

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4 0
3 years ago
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