FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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+
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 year
Amount
2
$11,000
$6,000
$3,000
Account
Membership revenue
Personal training revenue
Product sales
Amount
$145,000
$76,000
$67.000
$35,000
$12,000
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
Cost of product sold
Front desk staff wages expense
If a traditional income statement is prepared for the year, what is Gross Profit?
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Transcribed Image Text:+ 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 year Amount 2 $11,000 $6,000 $3,000 Account Membership revenue Personal training revenue Product sales Amount $145,000 $76,000 $67.000 $35,000 $12,000 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 Cost of product sold Front desk staff wages expense If a traditional income statement is prepared for the year, what is Gross Profit?
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