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alex41 [277]
3 years ago
15

Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from cus

tomers, $335,000; Cash paid for rent, $39,000; Cash paid to employees for services rendered during the year, $119,000; Cash paid for utilities, $49,000. In addition, you determine that customers owed the company $59,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,900 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.
Business
1 answer:
Svetach [21]3 years ago
3 0

Answer:

The accrual net income for the year is $204,600

Explanation:

The computation of the accrual net income for the year is shown below:

Net income = Revenue - expenditure

where,

Revenue = Cash collected from customers + customers owed at the end of the year

And, the expenditure = Cash paid for rent + Cash paid to employees for services rendered during the year + Cash paid for utilities + gas and electric expenses

Now put these values to the above formula

So, the answer would be equal to

= Cash collected from customers + customers owed at the end of the year - Cash paid for rent - Cash paid to employees for services rendered during the year - Cash paid for utilities - gas and electric expenses

= $335,000 + $59,000 - $19,500 - $119,000 - $49,000 - $1,900

= $204,600

The rent payment is given for two years but we have to compute for the one year only

So, rent payment = $39,000 ÷ 2 = $19,500

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Answer:

5 hours

Explanation:

Data provided in the question

Per month tennis charges = $50

Court time per hour = $10

Current month bill = $100

By considering the above information we can find out the variable expense that is shown below:

= Current month bill - per month tennis charges

= $100 - $50

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So, the number of court time hours usage is

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7 0
3 years ago
Last year, you purchased a stock at a price of $78.00 a share. Over the course of the year, you received $2.70 per share in divi
lutik1710 [3]

Answer:

5.65%

Explanation:

Last year a stock of $78.00 was bought

During the period of one year $2.70 was received in dividend and inflation averaged 3.2%

Today the shares was sold for $82.20

The first step is to calculate the nominal return

= ($82.20-$78.00+$2.70)/$78.00

= 6.9/78

= 0.0885×100

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= 8.85%-3.2%

= 5.65%

Hence the approximate real rate of return on this investment is 5.65%

6 0
2 years ago
V8 juice has for years advertised itself as a refreshing and nutritional drink that contains eight different vegetables, and tha
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Answer: Product line extension

Explanation:

Here, in this particular case the introduction of V8 mango and orange juice by the V8 corporation is the example of product line extension strategy. This strategy is used by the V8 organization in order to introduce the new item in  similar product line.  Here , the line extensions has taken place as the organization tends to introduces new items in similar product category.

7 0
3 years ago
In which journal would a customer's partial payment on account be recorded?
olga55 [171]

Answer:

Its real account

Cash A/C.....Dr

Debtor A/C....Dr

To Creditors A/C....

4 0
2 years ago
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Violations of security policies are considered to be a(n) __________ issue upon which proper disciplinary actions must be taken.
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<u>Answer: </u>

Violations of security policies are considered to be a law enforcement issue upon which proper disciplinary actions must be taken.

<u>Explanation: </u>

  • The security policies put into place by the organization actually serve as the first wall of protection for the organization.
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4 0
3 years ago
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