Answered: Expenses incurred for the month

Business

Accounting

Expenses incurred for the month

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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Question

Mary's transactions for her Coffee Shop during May 2020 are indicated below: Profit from services rendered: P47,500 Expenses for the maintenance of her car: 15,000 Expenses for rent: 120,000 annually Expenses for electricity: 24,600 Expenses for salary of each of her 2 employees: 5,000 Expenses incurred for the month of May 2020 shall be recorded at what amount?

a. 212,100

b. 154,600

c. 149,600

d. 59,600

e. 164,600

f. 44,600

g. 54,600

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