Homework Answers
Calculate net income
| Service revenue ( | 40000 |
| Rent expense | -9500 |
| Salaries expense | -22000 |
| Net income | 8500 |
So answer is d) $8500
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10. Yowell Company began operations on January 1. Year 1. During Year 1, the company engaged...
Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in...
Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $46,000 2) borrowed $28,000 from its bank 3) provided consulting services for $44,000 cash 4) paid back $18,000 of the bank loan 5) paid rent expense for $10,500 6) purchased equipment for $15,000 cash 7) paid $3,300 dividends to stockholders 8) paid employees' salaries of $24,000 What is Yowell's net income for Year 1?
Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in...
Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $76,000 2) borrowed $43,000 from its bank 3) provided consulting services for $74,000 cash 4) paid back $33,000 of the bank loan 5) paid rent expense for $18,000 6) purchased equipment for $30,000 cash 7) paid $4,800 dividends to stockholders 8) paid employees' salaries of $39,000 What is Yowell's net cash flow from operating activities?
2.Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in...
2.Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $46,000 2) borrowed $28,000 from its bank 3) provided consulting services for $44,000 cash 4) paid back $18,000 of the bank loan 5) paid rent expense for $10,500 6) purchased equipment for $15,000 cash 7) paid $3,300 dividends to stockholders 8) paid employees' salaries of $24,000 What is Yowell's net cash flow from operating activities? Multiple...
1z Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged...
1z Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions l) issued stock for $58.000 2) borrowed $34,000 from its bank provided consulting services for $56.000 cash 4) paid back $24.000 of the bank loan 5) paid rent expense for $13.500 6) p 8) paid employees' salaries of $30.000 What is Yowell's notes payable balance at the end of Year 1? $10.000 so.
Required information (The following information applies to the questions displayed below.) Yowell Company began operations on...
Required information (The following information applies to the questions displayed below.) Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $78,000 2) borrowed $44,000 from its bank 3) provided consulting services for $76,000 4) paid back $34,000 of the bank loan 5) paid rent expense for $18,500 6) purchased equipment costing $31,000 7) paid $4.900 dividends to stockholders 8) paid employees' salaries, $40,000 What is...
Required information (The following information applies to the questions displayed below.) Yowell Company began operations on...
Required information (The following information applies to the questions displayed below.) Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $76,000 2) borrowed $43,000 from its bank 3) provided consulting services for $74,000 4) paid back $33,000 of the bank loan 5) paid rent expense for $18,000 6) purchased equipment costing $30,000 7) paid $4.800 dividends to stockholders 8) paid employees' salaries for work completed...
please help Saved Help Save & EX Required information (The following information applies to the questions...
please help
Saved Help Save & EX Required information (The following information applies to the questions displayed below.) Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $74,000 2) borrowed $42,000 from its bank 3) provided consulting services for $72,000 4) paid back $32,000 of the bank loan 5) paid rent expense for $17,500 6) purchased equipment costing $29,000 7) paid $4,700 dividends to stockholders...
Required information Cole Company began operations on January 1, 2011. During 2011, the company engaged in...
Required information Cole Company began operations on January 1, 2011. During 2011, the company engaged in the following cash transactions: 1) issued stock for $30,000 2) borrowed $24,000 from its bank 3) sold merchandise for $28,500 4) paid back $10,100 of the bank loan 5) paid rent expense for $2,150 6) purchased equipment costing $5,150 7) paid $3,000 dividends to stockholders 8) paid employees' salaries, $11,100 What is Cole's net cash flow from operating activities? Multiple Choice Inflow of $58,300...
During January, Your Company engaged in the following cash transactions: 1) issued stock for $30,000 2)...
During January, Your Company engaged in the following cash transactions: 1) issued stock for $30,000 2) borrowed $45,000 from its bank 3) provided services for $32,000 cash 4) paid back $10,000 of the bank loan 5) paid employees' salaries, $2,000 6) purchased supplies for $3,000 7) paid $5,000 dividends to stockholders What is the net cash flow from financing activities for January? Group of answer choices
Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume...
Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.) 1) Acquired $1,350 cash from the issue of common stock, 2) Borrowed $820 from a bank. 3) Earned $1,050 of revenues. 4) Paid expenses of $330. 5) Paid a $130 dividend During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.) 1) Issued an additional $725 of common stock. 2) Repaid $500 of its...
1z Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions l) issued stock for $58.000 2) borrowed $34,000 from its bank provided consulting services for $56.000 cash 4) paid back $24.000 of the bank loan 5) paid rent expense for $13.500 6) p 8) paid employees' salaries of $30.000 What is Yowell's notes payable balance at the end of Year 1? $10.000 so.
Required information (The following information applies to the questions displayed below.) Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $78,000 2) borrowed $44,000 from its bank 3) provided consulting services for $76,000 4) paid back $34,000 of the bank loan 5) paid rent expense for $18,500 6) purchased equipment costing $31,000 7) paid $4.900 dividends to stockholders 8) paid employees' salaries, $40,000 What is...
Required information (The following information applies to the questions displayed below.) Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $76,000 2) borrowed $43,000 from its bank 3) provided consulting services for $74,000 4) paid back $33,000 of the bank loan 5) paid rent expense for $18,000 6) purchased equipment costing $30,000 7) paid $4.800 dividends to stockholders 8) paid employees' salaries for work completed...
please help
Saved Help Save & EX Required information (The following information applies to the questions displayed below.) Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $74,000 2) borrowed $42,000 from its bank 3) provided consulting services for $72,000 4) paid back $32,000 of the bank loan 5) paid rent expense for $17,500 6) purchased equipment costing $29,000 7) paid $4,700 dividends to stockholders...
Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.) 1) Acquired $1,350 cash from the issue of common stock, 2) Borrowed $820 from a bank. 3) Earned $1,050 of revenues. 4) Paid expenses of $330. 5) Paid a $130 dividend During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.) 1) Issued an additional $725 of common stock. 2) Repaid $500 of its...
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