LPR is a company that commenced business on 1 January 2019. Below are the balances in the 30 June 2019 financial statements. What is the net profit for the period ending 30 June 2019?
A) $15 000
B) $25 000
C) $40 000
D) None of the above

Question

LPR is a company that commenced business on 1 January 2019. Below are the balances in the 30 June 2019 financial statements.  What is the net profit for the period ending 30 June 2019?
A) $15 000 
B) $25 000 
C) $40 000 
D) None of the above

Quizplus · Accepted Answer

The net profit for the period ending 30 June 2019 can be calculated as follows:
Total revenue - Total expenses = Net profit
$250 000 - ($150 000 + $45 000 + $40 000) = $15 000
Therefore, the answer is A) $15 000.

LPR Is a Company That Commenced Business on 1 January