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During July, Hartman's General Store generated revenues of $80,000. The company's expenses were as follows: cost of goods sold of $50,000 and operating expenses of $6,000. The company also earned rent revenue of $2,000 and had a gain on the sale of equipment of $3,000. What is Hartman's net income for July? A) $27,000 B) $28,000 C) $29,000 D) $30,000

During July, Hartman's General Store generated revenues of $80,000. The company's expenses were as follows: cost of goods sold of $50,000 and operating expenses of $6,000. The company also earned rent revenue of $2,000 and had a gain on the sale of equipment of $3,000. What is Hartman's net income for July? A) $27,000 B) $28,000 C) $29,000 D) $30,000

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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What is Hartman's net income for July on these general accounting question?

During July, Hartman's General Store generated revenues of $80,000. The company's expenses were as follows: cost of goods sold of $50,000 and operating expenses of $6,000. The company also earned rent revenue of $2,000 and had a gain on the sale of equipment of $3,000. What is Hartman's net income for July? A) $27,000 B) $28,000 C) $29,000 D) $30,000
Transcribed Image Text:During July, Hartman's General Store generated revenues of $80,000. The company's expenses were as follows: cost of goods sold of $50,000 and operating expenses of $6,000. The company also earned rent revenue of $2,000 and had a gain on the sale of equipment of $3,000. What is Hartman's net income for July? A) $27,000 B) $28,000 C) $29,000 D) $30,000
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