During May, 2020, Samoul’s Supply Store generated revenues of $180,000. The company’s expenses were as follows: cost of goods sold of $72,000 and operating expenses of $12,000. The company also had rent revenue of $3,000 and a gain on the sale of a delivery truck of $6,000. Samoul’s income from operations for the month of May, 2020 is   $117,000.   $111,000.   $96,000.   $180,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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During May, 2020, Samoul’s Supply Store generated revenues of $180,000. The company’s expenses were as follows: cost of goods sold of $72,000 and operating expenses of $12,000. The company also had rent revenue of $3,000 and a gain on the sale of a delivery truck of $6,000.

Samoul’s income from operations for the month of May, 2020 is

  $117,000.
  $111,000.
  $96,000.
  $180,000.

 

 

 
   
   
 

 

   

 

 
   
   
 

 

   

 

 


   
 

 

   
   

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
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