Answered: What is the profit made by Ace? (profit…

Business

Accounting

What is the profit made by Ace? (profit = sales - cost)

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

Ace Landscape buys 100 shovels for $15 each. Ace sells all 100 shovels at $30. What is the profit made by Ace? (profit = sales - cost)

Group of answer choices

$1,400

$1,500

$1,600

$3,000

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