Jean's Fitness Club provides monthly memberships as well as personal training sessions. The personal trainers earn 50% of the revenue for all personal training sessions. The Fitness Club also sells nutrition products. Jean's general ledger accounts indicate the following for the year. The front desk staff wages expense remains the same throughout the year. Account Amount Account Amount Membership revenue $144,000 Personal trainer wages expense ? Personal training revenue $80,000 Space rental expense $11,000 Product sales $68,000 Straight line depreciation expense $6,000 Cost of product sold $38,000 Rental insurance expense $3,000 Front desk staff wages expense $16,000 If a traditional income statement is prepared for the year, what is operating income? Question 42 options: $288,000 $214,000 $178,000 $292,000
Jean's Fitness Club provides monthly memberships as well as personal training sessions. The personal trainers earn 50% of the revenue for all personal training sessions. The Fitness Club also sells nutrition products. Jean's general ledger accounts indicate the following for the year. The front desk staff wages expense remains the same throughout the year. Account Amount Account Amount Membership revenue $144,000 Personal trainer wages expense ? Personal training revenue $80,000 Space rental expense $11,000 Product sales $68,000 Straight line depreciation expense $6,000 Cost of product sold $38,000 Rental insurance expense $3,000 Front desk staff wages expense $16,000 If a traditional income statement is prepared for the year, what is operating income? Question 42 options: $288,000 $214,000 $178,000 $292,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Jean's Fitness Club provides monthly memberships as well as personal training sessions. The personal trainers earn 50% of the revenue for all personal training sessions. The Fitness Club also sells nutrition products. Jean's general ledger accounts indicate the following for the year. The front desk staff wages expense remains the same throughout the year.
If a traditional income statement is prepared for the year, what is operating income?
| Account | Amount | Account | Amount |
| Membership revenue | $144,000 | Personal trainer wages expense | ? |
| Personal training revenue | $80,000 | Space rental expense | $11,000 |
| Product sales | $68,000 | Straight line |
$6,000 |
| Cost of product sold | $38,000 | Rental insurance expense | $3,000 |
| Front desk staff wages expense | $16,000 | | |
Question 42 options:
|
|
$288,000
|
|
|
$214,000
|
|
|
$178,000
|
|
|
$292,000
|
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