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Brookfield's General Store generated revenues of $75,000 during September. The company's expenses were as follows: cost of goods sold of $45,000 and operating expenses of $6,000. The company also had rent revenue of $2,500 and a gain on the sale of office equipment of $3,500. Brookfield's net income for September is: a. $30,000 b. $33,000 c. $35,000 d. $34,500

Brookfield's General Store generated revenues of $75,000 during September. The company's expenses were as follows: cost of goods sold of $45,000 and operating expenses of $6,000. The company also had rent revenue of $2,500 and a gain on the sale of office equipment of $3,500. Brookfield's net income for September is: a. $30,000 b. $33,000 c. $35,000 d. $34,500

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...
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Brookfield's General Store generated revenues during September.

Brookfield's General Store generated revenues of $75,000 during September. The company's expenses were as follows: cost of goods sold of $45,000 and operating expenses of $6,000. The company also had rent revenue of $2,500 and a gain on the sale of office equipment of $3,500. Brookfield's net income for September is: a. $30,000 b. $33,000 c. $35,000 d. $34,500
Transcribed Image Text:Brookfield's General Store generated revenues of $75,000 during September. The company's expenses were as follows: cost of goods sold of $45,000 and operating expenses of $6,000. The company also had rent revenue of $2,500 and a gain on the sale of office equipment of $3,500. Brookfield's net income for September is: a. $30,000 b. $33,000 c. $35,000 d. $34,500
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