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ozzi
3 years ago
7

The following is selected information from Pina Colada Corp. for the fiscal year ending October 31, 2022. Cash received from cus

tomers $330000 Revenue recognized 484000 Cash paid for expenses 187000 Cash paid for computers on November 1, 2021 that will be used for 3 years 52800 Expenses incurred including any depreciation 237600 Proceeds from a bank loan, part of which was used to pay for the computers 110000 Based on the accrual basis of accounting, what is Pina Colada's net income for the year ending October 31, 2022?
Business
1 answer:
natulia [17]3 years ago
7 0

Answer:

Pina Colada's net income for the year ending October 31, 2022 is  $246,400.

Explanation:

Net income = Revenue recognized - Expenses incurred including depreciation

                    = $484,000  - $237,600

                    = $246,400

Therefore, Pina Colada's net income for the year ending October 31, 2022 is  $246,400.

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When the price of a bond is above the equilibrium price, there is excess ___ in the bond market and the price will ___.
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Hope this helps!
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3 years ago
Corn is a perfectly competitive commodity. in the marketplace, the demand curve for corn is:
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<span>The demand curve for corn depends on what market it is needing it. If corn is needed for food for humans or for animals and if the need is normal or in addition to a current or outstanding reason makes a difference.</span>
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3 years ago
Each of the following items must be considered in preparing a statement of cash flows. Indicate where each item is to be reporte
Mashcka [7]

Answer:

(a) Operating activity

(b) Financing activity

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2. Investing activities: It records those activities which include purchase and sale of the fixed assets

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.  

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(a) Increase in accounts receivable come under the operating activities, and this is to be in a negative amount

(b) Issue of preference shares comes under financing activity, and this is added while computing the financing activities

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4 0
3 years ago
You are climbing a stair case. It takes n steps to reach to the top. Each time you can either climb 1 or 2 steps. In how many di
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Answer:

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Number of ways climbing 1 step to the top = n combination 1 = n!/(n-1)1! = n(n-1)!/(n-1)! = n

Number of ways climbing 2 steps to the top = n combination 2 = n!/(n-2)!2! = n(n-1)(n-2)!/2(n-2)! = (n^2 - n)/2

Total number of ways = n + (n^2 - n)/2 = (2n + n^2 - n)/2 = (n^2 + n)/2 ways

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3 years ago
The Fruitiest Candy Company finds that from time to time it needs short-term funds to cover its operating expenses. It wants to
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Answer:

The answer is: E) set up a line of credit with a bank that offers a revolving credit agreement.

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