Anna withdrew $25,000 from her savings account last year to open the business after quitting her job as an equity analyst. Her annual salary was $125,000 and her bank pays 4.5% interest on saving accounts. An accountant would calculate Anna's profit to be: Question 53 options: $8,550 -$109,075 $0 $17,050 $15,925 Consider the following income statement for the first year of operations for Anna's Sandwich Shop.Income Statement: Anna's Sandwich ShopRevenueExpenses$25,600 BreadCondiments$2,600850Total sandwich salesVegetables450Meat950Rent2500Insurance1200Total Revenue|S25,600Total Expenses$8,550Anna withdrew $25,000 from her savings account last year to open the business after quitting her job as anequity analyst. Her annual salary was $125,000 and her bank pays 4.5% interest on saving accounts.An accountant would calculate Anna's profit to be:

Implicits Costs :- means Opportunity Cost i.e cost of best alternative foregone Explicitly Costs :-…

Answered: Income Statement: Anna's Sandwich Shop…

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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Anna withdrew $25,000 from her savings account last year to open the business after quitting her job as an equity analyst. Her annual salary was $125,000 and her bank pays 4.5% interest on saving accounts.

An accountant would calculate Anna's profit to be:

Question 53 options:

	$8,550
	-$109,075
	$0
	$17,050
	$15,925

Consider the following income statement for the first year of operations for Anna's Sandwich Shop.
Income Statement: Anna's Sandwich Shop
Revenue
Expenses
$25,600 Bread
Condiments
$2,600
850
Total sandwich sales
Vegetables
450
Meat
950
Rent
2500
Insurance
1200
Total Revenue
|S25,600
Total Expenses
$8,550
Anna withdrew $25,000 from her savings account last year to open the business after quitting her job as an
equity analyst. Her annual salary was $125,000 and her bank pays 4.5% interest on saving accounts.
An accountant would calculate Anna's profit to be:

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