Scenario 13-11 Zach Withdrew $400,000 Out of His Personal Savings Account and Account

Multiple Choice

Scenario 13-11
Zach withdrew $400,000 out of his personal savings account and used it to start his new cookie business. The bank account pays 3 percent interest per year. During the first year of his business, Zach sold 6,000 boxes of cookies for $2.50 per box. Also during the first year, the cookie business made monetary outlays of $9,000. You may assume that there is no opportunity cost to Zach's time.
-Refer to Scenario 13-11.Zach's accounting profit for the year was

A) $-494,000.
B) $-6,000.
C) $6,000.
D) $12,000.