Refer to the Following Trial Balance How Much Is the Gross Profit?
A)$169,000
B)$180,000
C)$282,000
D)$89,000

question 148

Multiple Choice

Refer to the following trial balance. $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & { \text { Credit } } \\\hline \text { Cash } & \$ 4,000 & \\\hline \text { Accounts Receivable } & 14,000 & \\\hline \text { Inventory } & 16,000 & \\\hline \text { Supplies } & 5,000 & \\\hline \text { Land } & 100,000 & \\\hline \text { Accounts Payable } & & \$ 6,000 \\\hline \text { Notes Payable } & & 25,000 \\\hline \text { Common Stock } & & 61,000 \\\hline \text { Retained Earnings } & & 10,000 \\\hline \text { Dividends } & 2,000 & \\ \hline \text { Sales Revenue } & &180,000 \\\hline \text { Sales Returns and Allowances } &5,000& \\\hline \text { Sales Discounts } & 6,000 & \\\hline \text { Cost of Goods Sold } &80,000 & \\\hline \text { Salaries Expense } &5,000 & \\\hline \text { Utilities Expense } &24,000 & \\\hline \text { Rent Expense } & 18,000 \\\hline \text { Interest Expense }& \underline { 3,000 } \\\hline \text { Totals } & \$ 282,000 & { \$ 282,000 } \\\hline\end{array}$$ How much is the gross profit?

• A)$169,000
• B)$180,000
• C)$282,000
• D)$89,000

---

Definitions:

Conscience

An internalized slate of standards and principles that constitutes a person’s primary guide to action. May cause feelings of discomfort or distress when the violation of a rule is contemplated or carried out.

TV Privileges

The allowance or permission given to individuals, often children, to watch television as a form of reward or within set limits.

Parent's Involvement

The active participation and engagement of parents in their children's education and learning process, ranging from attending school meetings to helping with homework.

Homework

A set of tasks assigned by teachers to students to be completed outside the classroom.