Donald Brennan has a financial planning business that received ...

[mcmcdaniel]

Donald Brennan has a financial planning business that received revenue totaling 212,000 for the year. His operating expenses were as follows: 99,600 for salaries; 4,980 for payroll taxes; 10,200 for office rent; 1,500 for depreciation of equipment; 12,500 for supplies; 5,040 for utilities; 2,544 for miscellaneous expenses; 6,850 for automobile expense; and 575 for equipment repair expense. Compute the total operating expenses and net profit before taxes for Donald Brennan's office for the year.

Question 2

Dr. Diana Brentwood, an optometrist, received revenue (professional fees) totaling 238,000 for the year ending December 31, 20- -. Her operating expenses were as follows: 74,800 for salaries; 1,230 for payroll taxes; 21,000 for office rent; 3,500 for depreciation of equipment; 15,000 for supplies; 4,840 for utilities; 1,750 for miscellaneous expenses; 2,100 for automobile expense; and 1,200 for equipment repair expense. Compute the total operating expenses and net profit before taxes for Dr. Brentwood's office for the year.

[Joc]

Answer to Question 1

operating expenses: 143,789; net profit: 68,211
operating expenses = 99,600 + 4,980 + 10,200 + 1,500 + 12,500 + 5,040 + 2,544 + 6,850 + 575 = 143,789
net profit = 212,000 - 143,789 = 68,211

Answer to Question 2

operating expenses: 125,420; net profit: 112,580
operating expenses = 74,800 + 1,230 + 21,000 + 3,500 + 15,000 + 4,840 + 1,750 + 2,100 + 1,200 = 125,420
net profit = 238,000 - 125,420 = 112,580

[mcmcdaniel]

Thank you

[Joc]

No problemo