Refer to the Following Trial Balance How Much Is the Gross Profit?
A) $79,000
B) $160,000

question 180

Multiple Choice

Refer to the following trial balance. $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & { \text { Credit } } \\\hline \text { Cash } & \$ 6,000 & \\\hline \text { Accounts Receivable } & 12,000 & \\\hline \text { Inventory } & 17,000 & \\\hline \text { Supplies } & 4,000 & \\\hline \text { Land } & 100,000 & \\\hline \text { Accounts Payable } & & \$ 5,000 \\\hline \text { Notes Payable } & & 25,000 \\\hline \text { Song, Capital } & & 81,000 \\\hline \text { Song, Withdrawals } & 81,000 & \\\hline \text { Sales Revenue } & 6,000 & \\\hline \text { Cost of Goods Sold } & 21,000 & \\\hline \text { Salaries Expense } & 18,000 & \\\hline \text { Utilities Expense } & 4,000 & \\\hline \text { Rent Expense } & \$ 271,000 & \$ 271,000 \\\hline\end{array}$$ How much is the gross profit?

• A) $79,000
• B) $160,000
• C) $77,000
• D) $30,000

Grasp the concept of salvage value and its role in capital budgeting analysis.

Gain knowledge about the simple rate of return method and its application.

Learn how to evaluate investment proposals using the profitability index.

Understand the concept of incremental cost approach in capital budgeting.

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