Homework Answers
Answer---
Net Income = $187,600
Working
| Working | |||
| Revenue (Collected plus owed) | $ 3,64,000.00 | 310000+54000 | |
| Less: Expenses | |||
| Rent expense (for current year only ) | $ 17,000.00 | 34000/2 | |
| Employee salary | $ 1,14,000.00 | ||
| Utilities expense (accrued and paid in cash) | $ 45,400.00 | 44000+1400 | |
| Total expenses | $ 1,76,400.00 | ||
| Net income | $ 1,87,600.00 | ||
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Homework 3: Chi HelpS Cash flows during the first year of operations for the Harman Kardon...
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