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svp [43]
3 years ago
12

Item1 Return to questionItem 1 Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as f

ollows: Cash collected from customers, $305,000; Cash paid for rent, $33,000; Cash paid to employees for services rendered during the year, $113,000; Cash paid for utilities, $43,000. In addition, you determine that customers owed the company $53,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,300 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.
Business
1 answer:
leva [86]3 years ago
4 0

Answer:

$184,200

Explanation:

Revenues:

= ($305,000 + $53,000) = $358,000

Expenses:

Rent = ($33,000/2) = ($16,500)

Salaries = ($113,000)

Utilities = ($43,000 + $1,300) = ($44,300)

Total Expenses = $16,500 + $113,000 + $44,300= $173,800

Accrual Net income = $358,000 - $173,800

Accrual Net income = $184,200

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3 years ago
YoYo Fashion December 31, 2013 balance sheet showed total common equity of $5,500,000 and 250,000 shares outstanding. During 201
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Answer:

$23.6 per share

Explanation:

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3 years ago
One of the major shortcomings of organizational charts is that they do not recognize the role of _____ when they depict authorit
Snezhnost [94]

Answer:

b. ​horizontal communication

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8 0
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