may accounts\nrevenue\ndog food $3,400\ncat food $2,600\npet treats $1,650\npet supplies $1,800\ntotal…
may accounts\nrevenue\ndog food $3,400\ncat food $2,600\npet treats $1,650\npet supplies $1,800\ntotal $9,450\nfixed expenses\nrent $2,000\nsalaries $2,000\nutilities $1,000\nproduct stock $4,000\ntotal $9,000\nvariable expenses\ntotal $0\nenter mias total profit/loss for the month in the box below, then click submit.
Answer
Explanation:
Step1: Recall profit - loss formula
Profit/Loss = Revenue - Total Expenses
Step2: Calculate total expenses
Total Expenses = Fixed Expenses+Variable Expenses. Here, Variable Expenses = 0, Fixed Expenses = $9000. So Total Expenses = $9000.
Step3: Calculate profit/loss
Revenue = $9450, Total Expenses = $9000. Profit/Loss = $9450 - $9000 = $450
Answer:
$450