Chapter 5 Quiz Using the following information for a periodic inventory system, what is the amount of net income? Purchases $32,000 Selling expense $960 Inventory, September 1 5,700 Inventory, September 30 6,370 Administrative expense 910 Sales 63,000 Rent revenue 1,200 Interest expense 1,040 Oa. $28,310 Ob. $29,510 Oc. $29,350 Od. $29,960 6.
Chapter 5 Quiz Using the following information for a periodic inventory system, what is the amount of net income? Purchases $32,000 Selling expense $960 Inventory, September 1 5,700 Inventory, September 30 6,370 Administrative expense 910 Sales 63,000 Rent revenue 1,200 Interest expense 1,040 Oa. $28,310 Ob. $29,510 Oc. $29,350 Od. $29,960 6.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![Chapter 5 Quiz
Using the following information for a periodic inventory system, what is the amount of net income?
Purchases
$32,000
Selling expense
$960
2.
Inventory, September 1
5,700
Inventory, September 30
6,370
3.
Administrative expense
910
Sales
63,000
Rent revenue
1,200
Interest expense
1,040
4.
Oa. $28,310
5.
Ob. $29,510
Oc. $29,350
6.
Od. $29,960
7.
8.
9.
10.
11.
12.
13.
V](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F464d7e76-3469-4964-8701-65b3840e9fe2%2F8bd55805-c875-46e4-a962-f3e67f35b818%2F2xpg0yg_processed.png&w=3840&q=75)
Transcribed Image Text:Chapter 5 Quiz
Using the following information for a periodic inventory system, what is the amount of net income?
Purchases
$32,000
Selling expense
$960
2.
Inventory, September 1
5,700
Inventory, September 30
6,370
3.
Administrative expense
910
Sales
63,000
Rent revenue
1,200
Interest expense
1,040
4.
Oa. $28,310
5.
Ob. $29,510
Oc. $29,350
6.
Od. $29,960
7.
8.
9.
10.
11.
12.
13.
V
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