Please explain why it is being included in the net income and why others are not included in the net income
Homework Answers
| Date | Effect of Net income | Justification |
| Jun-01 | 5,000 | Rent revenue increase net income |
| Jun-15 | 1,000,000 | Sales revenue increase net income |
| -750,000 | Cost decreases net income | |
| Jun-17 | -50,000 | Operating expenses |
| Jun-18 | 0 | Only affect accounts receivable and cash, does not affect net income |
| Jun-24 | 0 | Only affect assets account, does not affect net income |
| Jun-28 | -75,000 | Operating expenses decreases net income |
| Jun-30 | -2,000 | Utilities expenses decreases net income |
| Total | 128,000 |
Answer: c) $128,000
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Please explain why it is being included in the net income and
why others are not...
please add an explanation of why each amount in either included or excluded from the formula....
please add an explanation of why each amount in either included
or excluded from the formula.
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1.2.
3.
Hardware Suppliers reports net income of $157,000. Included in net income is a gain on the sale of land of $16,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $27,000, an increase in inventory of $16,000, and a decrease in accounts payable of $47,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as...
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If you can please provide an explanation, I'll make sure to
upvote, thanks!
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please add an explanation of why each amount in either included
or excluded from the formula.
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1.2.
3.
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Please help me with all the
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If you can please provide an explanation, I'll make sure to
upvote, thanks!
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