A.) Service Income - Accounts Receivable
B.) Service Income
C.) Service Income - (Advertising + Licenses + Supplies + Telephone)
D.) (Service Income + Accounts Receivable) - (Advertising + Licenses + Supplies + Telephone)
E.) Service Income - (Accounts Receivable + Advertising + Licenses + Supplies + Telephone)
Homework Answers
Correct answer---------C.) Service Income - (Advertising + Licenses + Supplies + Telephone)
.
Net income will be calculated as Total revenues minus all expenses.
Accounts receivable will not be included in calculating income since accounts receivable is (an asset ) a balance sheet item not an expense or revenue.
Add Answer to:
A.) Service Income - Accounts Receivable
B.) Service Income
C.) Service Income - (Advertising + Licenses...
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $100,000 10,000 30,000 15,000...
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $100,000 10,000 30,000 15,000 11. Based on the above information, what amount will the corporation report as Cash Provided by Operating Activities on the cash flow statement? A. $65,000 B. $125,000 C$155,000 D. $100,000 I Net Income Depreciation expense Gain on sale of truck Proceeds from sale of truck Decrease in accounts receivable $200,000 30,000 5,000 8,000 10,000 12. Assuming these are the only facts, what amount will...
Net income $100,000; Depreciation expense $10,000; Net increase in accounts: receivable $5,000; Net increase in accounts:...
Net income $100,000; Depreciation expense $10,000; Net increase in accounts: receivable $5,000; Net increase in accounts: payable $3,000; On the basis of the information provided in the table above for a corporation, the corporation’s net cash flow from operating activities for the current year is what?
Use the following information to calculate operating cash flows: Net Income/(Loss) Increase in accounts receivable Cost...
Use the following information to calculate operating cash flows: Net Income/(Loss) Increase in accounts receivable Cost of Goods Sold Decrease in Inventory Increase in equipment Increase in accounts payable Increase in bonds payable Depreciation expense Increase in Common Stock Increase/(Decrease) In retained earnings ($5,000) 4,000 5,000 -3,000 10,000 1,000 20.000 5,000 3,000 ($5,000) Use the following information to calculate financing cash flows: Net Income (LOSS) ($4,000) Increase in accounts receivable 5,000 Cost of Goods Sold 5,000 Decrease in Inventory -3,000...
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4,000 Accounts Payable $3,000...
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies
$5,000 Accounts Receivable $4,000 Accounts Payable $3,000 Common
Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance
Expense $700 Masks Revenue $15,000 What is Net Income?
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4,000 Accounts Payable $3,000 Common Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance Expense $700 Masks Revenue $15,000 What is Net Income? Multiple Choice $800 non Multiple Choice $800 $3,800 $2,800 $2,800 < Prev...
create income statement, balance sheet, and statement of changes in equity Accounts receivable A Accounts payable...
create income statement, balance sheet, and statement of
changes in equity
Accounts receivable A Accounts payable L Cash A Common stock # $ Equipment A $ Insurance expense Expense $ Miscellaneous expense Expense $ Office supplies expense Exceng $ Service revenue Rev $ Wages expense Expense $ Dividends 6 $ 3,000 4,000 2,000 6,000 10,000 1,500 2,500 500 25,000 10,000 300
Bob's P Worksheet Trial Balance Debit Credit Del Cash 4,700 5,000 500 3,000 8,000 Accounts Receivable...
Bob's P Worksheet Trial Balance Debit Credit Del Cash 4,700 5,000 500 3,000 8,000 Accounts Receivable Prepaid Insurance Plumbing Supplies Plumbing Equipment Accumulated Depreciation, Plumbing Equipment 2,500 7,500 10,700 Accounts Payable . Frost, Captial . Frost, Withdrawals Plumbing Fees Rent Expense Salaries Expense 1,000 5,500 1,000 3,000 26,200 26,200 nsurance Net ncome osurance Expired, $500 Rlumbing Supplies on hand, 2,000 Depreciation Expense, Plumbing Equip, $600. Salaries Owed but not paid to employees, $1,200
23 Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4.000 Accounts Payable...
23 Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4.000 Accounts Payable $3,000 Common Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance Expense $700 Masks Revenue $15,000 2 01:29.14 What is Net Income? Multiple Choice $2,800 $3,800 $2.800 $800 $800
Consider the recorded transactions belovw Debit Credit 1. Accounts Receivable Service Revenue 8,600 8,600 2. Supplies...
Consider the recorded transactions belovw Debit Credit 1. Accounts Receivable Service Revenue 8,600 8,600 2. Supplies 1.700 Accounts Payable 1,700 3. Cash 9.000 Accounts Receivable 9,000 4 Advertising Expense 1,200 Cash 1,200 5. Accounts Payable Cash 2,500 2,500 6. Cash 1,000 Deferred Revenue 1,000 Required Post each transaction to T-accounts and calculate the ending balance for each account. The beginning balance of each account before the transactions is: Cash, $2,200; Accounts Receivable, $3,000; Supplies, $280; Accounts Payable, $2,300; Deferred Revenue,...
Data Table Cash 10,000 Accounts receivable 18,900 Supplies 2,000 1,300 Prepaid rent Equipment 36,900 Accumulated depreciation-equipment...
Data Table Cash 10,000 Accounts receivable 18,900 Supplies 2,000 1,300 Prepaid rent Equipment 36,900 Accumulated depreciation-equipment 4,100 Accounts payable 8,700 Interest payable 800 Unearned service revenue 500 Income tax payable 2,000 Note payable 18,400 Common stock 11,000 Retained earnings 5,000 Dividends 3,000 Service revenue 98,900 Depreciation expense-equipment 1,300 Salary expense 49,800 Rent expense 11,200 Interest expense 2,500 Insurance expense 3,500 2,100 Supplies expense 6,900 Income tax expense 149,400 $ 149,400 Total Print Done %24 The adjusted trial balance for the...
prepare an Income Statement and Balance Sheet. Balance Account Name Db Cr Accounts Payable 3,000...
prepare an Income Statement and Balance Sheet. Balance Account Name Db Cr Accounts Payable 3,000 Accounts Receivable 5,000 Accrued Expenses 15,000 Accumulated Depr. Equipment 5,000 Building 100,000 Capital Stock ####### Cash 50,000 Cost of Goods Sold 10,000 Equipment 50,000 Income Tax Payable 1,000 Land 50,000 Long Term Debt 75,000 Long Term Investments 100,000 Marketing Expenses 8,000 Merchandise Inventory 2,500 PrePaid Expenses 3,000 Rent Expenses ...
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $100,000 10,000 30,000 15,000 11. Based on the above information, what amount will the corporation report as Cash Provided by Operating Activities on the cash flow statement? A. $65,000 B. $125,000 C$155,000 D. $100,000 I Net Income Depreciation expense Gain on sale of truck Proceeds from sale of truck Decrease in accounts receivable $200,000 30,000 5,000 8,000 10,000 12. Assuming these are the only facts, what amount will...
Use the following information to calculate operating cash flows: Net Income/(Loss) Increase in accounts receivable Cost of Goods Sold Decrease in Inventory Increase in equipment Increase in accounts payable Increase in bonds payable Depreciation expense Increase in Common Stock Increase/(Decrease) In retained earnings ($5,000) 4,000 5,000 -3,000 10,000 1,000 20.000 5,000 3,000 ($5,000) Use the following information to calculate financing cash flows: Net Income (LOSS) ($4,000) Increase in accounts receivable 5,000 Cost of Goods Sold 5,000 Decrease in Inventory -3,000...
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies
$5,000 Accounts Receivable $4,000 Accounts Payable $3,000 Common
Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance
Expense $700 Masks Revenue $15,000 What is Net Income?
Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4,000 Accounts Payable $3,000 Common Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance Expense $700 Masks Revenue $15,000 What is Net Income? Multiple Choice $800 non Multiple Choice $800 $3,800 $2,800 $2,800 < Prev...
create income statement, balance sheet, and statement of
changes in equity
Accounts receivable A Accounts payable L Cash A Common stock # $ Equipment A $ Insurance expense Expense $ Miscellaneous expense Expense $ Office supplies expense Exceng $ Service revenue Rev $ Wages expense Expense $ Dividends 6 $ 3,000 4,000 2,000 6,000 10,000 1,500 2,500 500 25,000 10,000 300
Bob's P Worksheet Trial Balance Debit Credit Del Cash 4,700 5,000 500 3,000 8,000 Accounts Receivable Prepaid Insurance Plumbing Supplies Plumbing Equipment Accumulated Depreciation, Plumbing Equipment 2,500 7,500 10,700 Accounts Payable . Frost, Captial . Frost, Withdrawals Plumbing Fees Rent Expense Salaries Expense 1,000 5,500 1,000 3,000 26,200 26,200 nsurance Net ncome osurance Expired, $500 Rlumbing Supplies on hand, 2,000 Depreciation Expense, Plumbing Equip, $600. Salaries Owed but not paid to employees, $1,200
23 Masks, Inc Trial Balance at 12/31/XX Cash $11,000 Supplies $5,000 Accounts Receivable $4.000 Accounts Payable $3,000 Common Stock $2,000 Dividends $1,000 Supplies Expense $10,500 Insurance Expense $700 Masks Revenue $15,000 2 01:29.14 What is Net Income? Multiple Choice $2,800 $3,800 $2.800 $800 $800
Consider the recorded transactions belovw Debit Credit 1. Accounts Receivable Service Revenue 8,600 8,600 2. Supplies 1.700 Accounts Payable 1,700 3. Cash 9.000 Accounts Receivable 9,000 4 Advertising Expense 1,200 Cash 1,200 5. Accounts Payable Cash 2,500 2,500 6. Cash 1,000 Deferred Revenue 1,000 Required Post each transaction to T-accounts and calculate the ending balance for each account. The beginning balance of each account before the transactions is: Cash, $2,200; Accounts Receivable, $3,000; Supplies, $280; Accounts Payable, $2,300; Deferred Revenue,...
Data Table Cash 10,000 Accounts receivable 18,900 Supplies 2,000 1,300 Prepaid rent Equipment 36,900 Accumulated depreciation-equipment 4,100 Accounts payable 8,700 Interest payable 800 Unearned service revenue 500 Income tax payable 2,000 Note payable 18,400 Common stock 11,000 Retained earnings 5,000 Dividends 3,000 Service revenue 98,900 Depreciation expense-equipment 1,300 Salary expense 49,800 Rent expense 11,200 Interest expense 2,500 Insurance expense 3,500 2,100 Supplies expense 6,900 Income tax expense 149,400 $ 149,400 Total Print Done %24 The adjusted trial balance for the...
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