Author Question: What is the net profit for Bobson's Hardware? A) 24,540 B) 48,207 C) 62,320 D) ... (Read 141 times)

strangeaffliction · **on:** Jun 24, 2018

What is the net profit for Bobson's Hardware?
A) 24,540
B) 48,207
C) 62,320
D) 73,657

Question 2

Mr. Bobson owns a hardware store. The gross sales for the first quarter of the year were 92,000. There was 1,930 in returned merchandise and 2,300 in sales discounts. His beginning merchandise inventory was 54,000 and his ending inventory was 40,000. He purchased 17,000 of additional merchandise for sale during the quarter, returned 1,750 worth of merchandise damaged during shipment, and received 3,800 in purchase discounts. Mr. Bobson's operating expenses include the following: delivery expense, 263; depreciation expense for equipment, 750; payroll taxes expense, 585; salary expense, 11,700; supplies, 395; and utilities expense, 420. What are the total operating expenses for Bobson's Hardware?
A) 8,563
B) 14,113
C) 18,343
D) 19,663