Homework Answers
Answer:-
1. Operating Cash Flows
| Sr. No. | Particulars | Amount ($) |
| 1. | Cash collected from customers for services provided | 71500 |
| 2. | Salaries Expense for the year | -36500 |
| 3. | Advertising paid for the year | -11500 |
| 4. | Supplies paid for the year | -5500 |
| 5. | Utilities paid for the year | -12500 |
| 6. | Cash collected in advance from customers | 3500 |
| Net operating Cash Flows | $ 9000 |
2. Net Income:-
| Sr. No. | Particulars | Amount ($) |
| 1. | Service Revenue for the year | 83000 |
| 2. | Salaries Expense for the year | -43000 |
| 3. | Advertising Expense for the year | -11500 |
| 4. | Supplies Expense for the year | 0 |
| 5. | Utilities Expense for the year | -15000 |
| 6. | Deffered Revenue | 0 |
| Net Income | $ 13500 |
Notes :-
1. Since no supplies were purchased during the year, it is not deducted as an expense in calculating net income.
2. Cash collected in advance for services to be provided in next year will be considered in income statement in next year as per accrual basis of accounting.
Add Answer to:
Chapter Four Homework Help Save & Exit Submit Check my work 1. Service Revenue for the...
Heturn to quest Consider the following information: 1. Service Revenue for the year $83,000. Of this...
Heturn to quest Consider the following information: 1. Service Revenue for the year $83,000. Of this amount. $71,500 is collected during the year and $11,500 is expected to be collected next year. 2. Salaries Expense for the year = $43,000. Of this amount. $36,500 is paid during the year and $6.500 is expected to be paid next year. 3. Advertising Expense for the year = $11,500. All of this amount is paid during the year. 4. Supplies Expense for the...
I got a number 5 wrong 11300 from the first chart and number 4&5 wrong too...
I got a number 5 wrong 11300 from the first chart and number
4&5 wrong too from the second chart can somebody help me please
10 Exercise 4-19A Compare operating cash flows to net income (LO4-7) Consider the following information: points eBook Print 1. Service Revenue for the year = $80,600. Of this amount, $70,300 is collected during the year and $10,300 is expected to be collected next year. 2. Salaries Expense for the year = $40,600. Of this amount,...
chapter 3 homework Chapter 3 Homework Help Save & Exit Submit Check my work Dr. Schekter,...
chapter 3 homework
Chapter 3 Homework Help Save & Exit Submit Check my work Dr. Schekter, DVM, opened a veterinary clinic on May 1, current year. The business transactions for May are shown as follows. May 1 Dr. Sebekter invested $400,000 cash in the business in exchange for 6,000 shares of eapital soek. May Land and a building were purchased for $300,000. Of this amount, 584,000 applied to the land, and $216,000 to the building. A cash payment of $120,000...
Homework 3 Saved Help Save & Exit Submit Check my work Part 2 of 2 Required...
Homework 3 Saved Help Save & Exit Submit Check my work Part 2 of 2 Required information The following information applies to the questions displayed below.) Ricky's Plano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: points $10,050 4,600 eBook Cash Accounts Receivable Supplies Equipment Land Building $ 5,800 Accounts Payable 33.750 Deferred Revenue...
Chapter 5 Homework Saved Help Save & Exit Submi Check my work Affordable Lawn Care, Inc.,...
Chapter 5 Homework Saved Help Save & Exit Submi Check my work Affordable Lawn Care, Inc., provides lawn mowing services to both commercial and residential customers. The company performs adjusting entries on a monthly basis, whereas closing entries are prepared annually at December 31. An adjusted trial balance dated December 31, current year, Tollow eBook References Credits $ 240,000 24,000 3,000 100,000 1,800 AFFORDABLE LAWN CARE, INC. Adjusted Trial Balance December 31, Current Year Debits Cash $ 117,050 Accounts receivable...
chapter 13 Homework × - Chapter 13 Homework Help Save & Exit Submit Check my work 6 Required information The following information applies to the questions dispiayed below. The following transact...
chapter 13 Homework × - Chapter 13 Homework Help Save & Exit Submit Check my work 6 Required information The following information applies to the questions dispiayed below. The following transactions pertaln to Smith Training Company for Year 1: Part 5 of G an 30 Established the business when it acquired $54,08 cash from the issue of common stock Feb. 1 Paid rent for oftice space tor two years, $15,800 cash Apr. 10 Purchased $778 of supplices on account July...
Homework 3 Saved Help Save & Exit Submit Check my work Rowland & Sons Air Transport...
Homework 3 Saved Help Save & Exit Submit Check my work Rowland & Sons Air Transport Service, Inc., has been in operation for three years. The following transactions occurred in February points Feb. 1 Paid $265 for rent of hangar space in February. Received customer payment of $930 to ship several items to Philadelphia next Feb. 9 month. eBook Feb. 7 Flew cargo from Denver to Dallas; the customer paid in full ($1,050 cash). Feb.10 Incurred and paid $1,750 in...
My Path Home Chapter 02 Homework -02 Homework Saved Help Save & Exit Submit Check my...
My Path Home Chapter 02 Homework -02 Homework Saved Help Save & Exit Submit Check my work Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $60,000 cash along with office equipment valued at $25,000 in a new business named HV Consulting in exchange for common stock b. The company purchased land valued at $40,000 and a building valued at $160,000. The purchase is paid with $30,000 cash and a long-term note...
Homework 3 Saved Help Save & Exit Submit Check my work Part 1 of 2 Required...
Homework 3 Saved Help Save & Exit Submit Check my work Part 1 of 2 Required information The following information applies to the questions displayed below.) Ricky's Plano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: points Skipped $ 5,800 Accounts Payable 33,750 Deferred Revenue (deposits) $10,050 4,600 eBook Cash Accounts Receivable Supplies Equipment...
Chapter 1 Homework Seved Help Save & Exit Submit Check my work 8 Problem 1-2A Classifying...
Chapter 1 Homework Seved Help Save & Exit Submit Check my work 8 Problem 1-2A Classifying costs LO C2, C3 The following calendar year-end Information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company 4 points cock Print Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Pactory supplies used Factory utilities Indirect Miscellaneous production costs office salaries expense Raw materials purchases. Rent expense-office space Rent expense-selling space Maintenance...
Heturn to quest Consider the following information: 1. Service Revenue for the year $83,000. Of this amount. $71,500 is collected during the year and $11,500 is expected to be collected next year. 2. Salaries Expense for the year = $43,000. Of this amount. $36,500 is paid during the year and $6.500 is expected to be paid next year. 3. Advertising Expense for the year = $11,500. All of this amount is paid during the year. 4. Supplies Expense for the...
I got a number 5 wrong 11300 from the first chart and number
4&5 wrong too from the second chart can somebody help me please
10 Exercise 4-19A Compare operating cash flows to net income (LO4-7) Consider the following information: points eBook Print 1. Service Revenue for the year = $80,600. Of this amount, $70,300 is collected during the year and $10,300 is expected to be collected next year. 2. Salaries Expense for the year = $40,600. Of this amount,...
chapter 3 homework
Chapter 3 Homework Help Save & Exit Submit Check my work Dr. Schekter, DVM, opened a veterinary clinic on May 1, current year. The business transactions for May are shown as follows. May 1 Dr. Sebekter invested $400,000 cash in the business in exchange for 6,000 shares of eapital soek. May Land and a building were purchased for $300,000. Of this amount, 584,000 applied to the land, and $216,000 to the building. A cash payment of $120,000...
Homework 3 Saved Help Save & Exit Submit Check my work Part 2 of 2 Required information The following information applies to the questions displayed below.) Ricky's Plano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: points $10,050 4,600 eBook Cash Accounts Receivable Supplies Equipment Land Building $ 5,800 Accounts Payable 33.750 Deferred Revenue...
Chapter 5 Homework Saved Help Save & Exit Submi Check my work Affordable Lawn Care, Inc., provides lawn mowing services to both commercial and residential customers. The company performs adjusting entries on a monthly basis, whereas closing entries are prepared annually at December 31. An adjusted trial balance dated December 31, current year, Tollow eBook References Credits $ 240,000 24,000 3,000 100,000 1,800 AFFORDABLE LAWN CARE, INC. Adjusted Trial Balance December 31, Current Year Debits Cash $ 117,050 Accounts receivable...
chapter 13 Homework × - Chapter 13 Homework Help Save & Exit Submit Check my work 6 Required information The following information applies to the questions dispiayed below. The following transactions pertaln to Smith Training Company for Year 1: Part 5 of G an 30 Established the business when it acquired $54,08 cash from the issue of common stock Feb. 1 Paid rent for oftice space tor two years, $15,800 cash Apr. 10 Purchased $778 of supplices on account July...
Homework 3 Saved Help Save & Exit Submit Check my work Rowland & Sons Air Transport Service, Inc., has been in operation for three years. The following transactions occurred in February points Feb. 1 Paid $265 for rent of hangar space in February. Received customer payment of $930 to ship several items to Philadelphia next Feb. 9 month. eBook Feb. 7 Flew cargo from Denver to Dallas; the customer paid in full ($1,050 cash). Feb.10 Incurred and paid $1,750 in...
My Path Home Chapter 02 Homework -02 Homework Saved Help Save & Exit Submit Check my work Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $60,000 cash along with office equipment valued at $25,000 in a new business named HV Consulting in exchange for common stock b. The company purchased land valued at $40,000 and a building valued at $160,000. The purchase is paid with $30,000 cash and a long-term note...
Homework 3 Saved Help Save & Exit Submit Check my work Part 1 of 2 Required information The following information applies to the questions displayed below.) Ricky's Plano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: points Skipped $ 5,800 Accounts Payable 33,750 Deferred Revenue (deposits) $10,050 4,600 eBook Cash Accounts Receivable Supplies Equipment...
Chapter 1 Homework Seved Help Save & Exit Submit Check my work 8 Problem 1-2A Classifying costs LO C2, C3 The following calendar year-end Information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company 4 points cock Print Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Pactory supplies used Factory utilities Indirect Miscellaneous production costs office salaries expense Raw materials purchases. Rent expense-office space Rent expense-selling space Maintenance...
Most questions answered within 3 hours.
-
Explain some different types of fungi. State the different
divisions undergo by fungi.
asked 7 minutes ago -
The shortest time that 120 C can flow through a 20 A circuit
breaker without tripping...
asked 8 minutes ago -
A software design pattern is a general, reusable solution to a
commonly occurring problem, acting as...
asked 10 minutes ago -
The mean waiting time at the drive-through of a fast-food
restaurant from the time an order...
asked 27 minutes ago -
The pitch (p) of a helix is defined as p = dn, in which n is...
asked 29 minutes ago -
Do you agree that the declining stock of social capital is the
blame for the failure...
asked 32 minutes ago -
A researcher is interested in whether coffee consumption helps
with performance on reading comprehension tasks. The...
asked 42 minutes ago -
it has been estimated since the beginning of the human race that
about 133 metric ton...
asked 48 minutes ago -
Where must Medicare prescription drug plans allow for
participants to fill their prescriptions?
asked 51 minutes ago -
Five moles of monatomic ideal gas have initial pressure 2.50 ×
103 Pa and initial volume...
asked 1 hour ago -
A resistor and the capacitor are used to control the timing in
the RC circuit of...
asked 1 hour ago -
Living in a group could bring several disadvantages to an
individual. What are some of the...
asked 1 hour ago