The following are the current month's balances for Toys Galore:
$$\begin{array} { | l | l | }
\hline \text { Accounts payable } & \$ 9000 \
\hline \text { Revenue } & 12,000 \
\hline \text { Cash } & 3000 \
\hline \text { Expenses } & 1400 \
\hline \text { Furniture } & 14,000 \
\hline \text { Accounts receivable } & 13,000 \
\hline \text { Iones, capital } & 7250 \
\hline \text { Loan payable } & 4500 \
\hline
\end{array}$$
What is the profit for Toys Galore for the current month?

Question

The following are the current month's balances for Toys Galore:
$$\begin{array} { | l | l | } 
\hline \text { Accounts payable } & \$ 9000 \
\hline \text { Revenue } & 12,000 \
\hline \text { Cash } & 3000 \
\hline \text { Expenses } & 1400 \
\hline \text { Furniture } & 14,000 \
\hline \text { Accounts receivable } & 13,000 \
\hline \text { Iones, capital } & 7250 \
\hline \text { Loan payable } & 4500 \
\hline
\end{array}$$
What is the profit for Toys Galore for the current month?

Quizplus · Accepted Answer

The question does not provide any information about the expenses or revenue. Therefore, we can only determine the profit by subtracting the total expenses from the total revenue. However, since the question only provides a single balance for the month, we cannot determine the revenue or expenses. Therefore, we must choose the option that reflects that we cannot determine the profit, which is option B, $10,600.

The Following Are the Current Month's Balances for Toys Galore