Reference no: EM132513286

Dees Hair Salon began operations on November 1, 2018; during November, the hair salon had the following transactions:

1. Issued common stock to owners in exchange for $44,000 cash.
2. Purchased $11,000 of equipment, paying $2,200 cash and signing a promissory note for $8,800.
3. Received $19,800 in cash for hair coloring services performed in November.
4. Purchased $3,300 of supplies on account; all of the supplies were used in November.
5. Provided hair coloring services on account in the amount of $35,200.
6. Paid $1,650 on account.
7. Paid $6,600 to employees for work performed during November.
8. Received a bill for utilities for November of $7,500; the bill remains unpaid.

Question 1: What is the total expenses that will be reported on the income statement for the month ended November?

Multiple Choice

1. $17,950.
2. $17,400.
3. $8,250.
4. $9,900.