A business has the following expenses: $5,000 for rent, $2,000 for insurance, $15,000 for salaries, and $1,000 for utilities. What are the total expenses listed on the income statement? O A. $22,000 B. $23,000 O C. $7,000 O D. $16,000

A business has the following expenses: $5,000 for rent, $2,000 for insurance, $15,000 for salaries, and $1,000 for utilities. What are the total expenses listed on the income statement? O A. $22,000 B. $23,000 O C. $7,000 O D. $16,000

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 2E: Determine the following amounts: a. The amount of the liabilities of a business that has 60,800 in...

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A business has the following expenses: $5,000 for rent, $2,000 for insurance,
$15,000 for salaries, and $1,000 for utilities. What are the total expenses
listed on the income statement?
O A. $22,000
O B. $23,000
O C. $7,000
O D. $16,000

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