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75) An appraiser has been requested to appraise a poultry farm. This type of farm is typically not leased, but is owner operated. Gross income from the poultry operation was reported at $150,000. Expenses were taken from the owner's profit and loss statement as follows: Ad valorem taxes: $1,500 Building insurance: $1,000 Utilities: $12,000 Interest: $48,000 Depreciation: $18,000 Salaries: $24,000 Repair and maintenance: $8,000 Management: $12,000 What is the net operating income? A) $91,500 B) $115,500 C) $43,500 D) $25,500 Dain't tunt Das Fox

75) An appraiser has been requested to appraise a poultry farm. This type of farm is typically not leased, but is owner operated. Gross income from the poultry operation was reported at $150,000. Expenses were taken from the owner's profit and loss statement as follows: Ad valorem taxes: $1,500 Building insurance: $1,000 Utilities: $12,000 Interest: $48,000 Depreciation: $18,000 Salaries: $24,000 Repair and maintenance: $8,000 Management: $12,000 What is the net operating income? A) $91,500 B) $115,500 C) $43,500 D) $25,500 Dain't tunt Das Fox

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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75) An appraiser has been requested to appraise a poultry farm. This type of farm is typically not leased, but is owner operated. Gross income from the poultry operation was reported at $150,000. Expenses were taken from the owner's profit and loss statement as follows: Ad valorem taxes: $1,500 Building insurance: $1,000 Utilities: $12,000 Interest: $48,000 Dain't tout Depreciation: $18,000 Dolan fax Salaries: $24,000 Repair and maintenance: $8,000 Management: $12,000 What is the net operating income? A) $91,500 B) $115,500 C) $43,500 D) $25,500
Transcribed Image Text:75) An appraiser has been requested to appraise a poultry farm. This type of farm is typically not leased, but is owner operated. Gross income from the poultry operation was reported at $150,000. Expenses were taken from the owner's profit and loss statement as follows: Ad valorem taxes: $1,500 Building insurance: $1,000 Utilities: $12,000 Interest: $48,000 Dain't tout Depreciation: $18,000 Dolan fax Salaries: $24,000 Repair and maintenance: $8,000 Management: $12,000 What is the net operating income? A) $91,500 B) $115,500 C) $43,500 D) $25,500
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