+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-sels nutrition products. Jean's general ledger accounts indicate the following for the year. The front desk staff wages expense remains the same throughout the yearAmount2$11,000$6,000$3,000AccountMembership revenuePersonal training revenueProduct salesAmount$145,000$76,000$67.000$35,000$12,000OA $323,000OB. $285,000OC. $288,000OD. $253,000AccountPersonal trainer wages expenseSpace rental expenseStraight line depreciation expenseRental insurance expenseCost of product soldFront desk staff wages expenseIf a traditional income statement is prepared for the year, what is Gross Profit?

The income statement shows the financial performance of a company over a specific period of time.The…

Jean's Fitness Club provides monthly memberships as well as personal training sessions. The personal trainers eam 50% of the revenue for all personal training sessions. The Fitness Club also sels 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 Amount ? Account Membership revenue Amount $145,000 $76.000 Personal training revenue Product sales $67,000 Cost of product sold $35,000 Front desk staff wages expense $12,000 If a traditional income statement is prepared for the year, what is Gross Profit? OA $323,000 OB. $285,000 OC. $288,000 OD. $253,000 Account Personal trainer wages expense Space rental expense Straight line depreciation expense Rental insurance expense $11,000 $6,000 $3,000

Jean's Fitness Club provides monthly memberships as well as personal training sessions. The personal trainers eam 50% of the revenue for all personal training sessions. The Fitness Club also sels 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 Amount ? Account Membership revenue Amount $145,000 $76.000 Personal training revenue Product sales $67,000 Cost of product sold $35,000 Front desk staff wages expense $12,000 If a traditional income statement is prepared for the year, what is Gross Profit? OA $323,000 OB. $285,000 OC. $288,000 OD. $253,000 Account Personal trainer wages expense Space rental expense Straight line depreciation expense Rental insurance expense $11,000 $6,000 $3,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 14EA: Toren Inc. employs one person to run its solar management company. The employees gross income for...

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Jear's Finess Club provides monthly memberships as well as personal training sessions. The personal trainers eam 50% of the revenue for all personal training sessions. The Feness Club also sels 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 Membership revenue Personal training revenue Product sales Amount $143.000 $76.000 $60.000 $35.000 $13,000 OA $214,000 OB. $393,000 OC. $181,000 OD. $287.000 Account Personal trainer wages expense Space rental expense Straight line depreciation expense Rental insurance expense Cost of product sold Front desk staff wages expense If a contribution margin income statement is prepared for the year, what is operating income? Anount $11,000 $4,000 $3,000
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