Question

A business has the following expenses $5000 for rent $2000 for insurance 15000 for salaries and $1000 for utilities. what are the total expenses listed on the income statement?A. $22,000B. $7,000C.$ 16,000D. $23,000

Answer 1

Explanation:

Th listed expenses are:

• Rent: $5,000

,

• Insurance: $2,000

,

• Salaries: $15,000

,

• Utilities: $1,000

To find the total expenses listed on the income statement, add the cost for the 4 listed items:

`\begin{gathered} Total=5000+2000+15000+1000 \\ =\$23,000 \end{gathered}`

The total expenses listed on the income statement is $23,000.

Option D is correct.