Homework Answers
| Cash collected from customers | 340,000 |
| Cash owed by customers | 60,000 |
| Rent paid (40,000/2 months) | -20,000 |
| Cash paid to employees | -120,000 |
| Cash paid for utilities | -50,000 |
| Cash owed to gas company | -2,000 |
| Net income | 208,000 |
Add Answer to:
BE 1-1 Accrual accounting Cash flows during the first year of operations for the Harman-Kardon Consulting...
Cash flows during the first year of operations for the Harman Kardon Consulting Company were as...
Cash flows during the first year of operations for the Harman Kardon Consulting Company were as follows: Cash collected from customers, $325,000; Cash paid for rent, $37,000; Cash paid to employees for services rendered during the year, 5117,000; Cash paid for utilities, $47.000. In addition, you determine that customers owed the company $57,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,700 at year-end, and the rent...
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows:...
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $320,000; Cash paid for rent, $36,000; Cash paid to employees for services rendered during the year, $116,000; Cash paid for utilities, $46,000. In addition, you determine that customers owed the company $56,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,600 at year-end, and the rent payment...
Homework 3: Chi HelpS Cash flows during the first year of operations for the Harman Kardon...
Homework 3: Chi HelpS Cash flows during the first year of operations for the Harman Kardon Consulting Company were as follows: Cash collected from customers, $310,000: Cash paid for rent, $34,000; Cash paid to employees for services rendered during the year, $114,000; Cash paid for utilities, $44,000 In addition, you determine that customers owed the company $54,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,400 at...
Exercise 1-2 (Algo) Accrual accounting (L01-2) Listed below are several transactions that took place during the...
Exercise 1-2 (Algo) Accrual accounting (L01-2) Listed below are several transactions that took place during the second and third years of operations for the RPG Company. Year 2 Year 3 $250,000 $350,000 160,000 300,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent salaries paid to employees for services rendered during the year Utilities Advertising 70,000 130,000 20,000 10,000 150,000 30,000 25,000 In addition, you learn that the company incurred advertising costs...
Listed below are several transactions that took place during the first two years of operations for...
Listed below are several transactions that took place during the first two years of operations for the law firm of John, John and Steves. Year 1 Year 2 Amounts billed to customers for services rendered $200,000 $210,000 206,500 Cash collected from customers 193,500 Cash disbursements 75,000 65,000 Salaries paid to employees for services rendered during the year 50,000 30,000 Utilities 48,000 Purchases of insurance policy In addition, you learn that the company incurred utility costs of $40,000 in year 1,...
Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows...
Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows were recorded cash received for services rendered to clients, $430,000, and cash paid for salaries, utilities, and advertising. $245,000 $36,000 and $13,000, respectively. You also determine that customers owed the company $56.000 and $61,000 at the beginning and end of the year, respectively, and that the company owed the utility company $4,000 and $2.500 at the beginning and end of the year, respectively Complete...
Listed below are several transactions that took place during the second and third years of operations...
Listed below are several transactions that took place during the second and third years of operations for the RPG Company. Year 2 Year 3 Amounts billed to customers for services rendered $ 300,000 $ 400,000 Cash collected from credit customers 210,000 350,000 Cash disbursements: Payment of rent 75,000 0 Salaries paid to employees for services rendered during the year 135,000 155,000 Utilities 25,000 35,000 Advertising 12,500 30,000 In addition, you learn that the company incurred advertising costs of $20,000 in...
Listed below are several transactions that took place during the second and third years of operations...
Listed below are several transactions that took place during the second and third years of operations for RPG Company. Year 2 Year 3 Amounts billed to customers for services rendered $ 400,000 $ 500,000 Cash collected from credit customers 310,000 450,000 Cash disbursements: Payment of rent 85,000 0 Salaries paid to employees for services rendered during the year 145,000 165,000 Travel and entertainment 35,000 45,000 Advertising 17,500 40,000 In addition, you learn that the company incurred advertising costs of $30,000...
Year 2 Year 3 $260,000 $360,000 170,000 310,000 Amounts billed to customers for services rendered Cash...
Year 2 Year 3 $260,000 $360,000 170,000 310,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 71,000 131,000 21,000 10,500 0 151,000 31,000 26,000 In addition, you learn that the company incurred advertising costs of $16,000 in year 2, owed the advertising agency $4,100 at the end of year 1, and there were no liabilities at the end of...
Exercise 1-2 (Algo) Accrual accounting (LO1-2) Listed below are several transactions that took place during the...
Exercise 1-2 (Algo) Accrual accounting (LO1-2) Listed below are several transactions that took place during the second and third years of operations for the RPG Company Year 2 Year 3 $380,000 $480,000 290,000 430,000 Anounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 83,000 143,000 33,000 16,500 163,000 43,000 38,000 In addition, you leam that the company incurred advertising costs...
Cash flows during the first year of operations for the Harman Kardon Consulting Company were as follows: Cash collected from customers, $325,000; Cash paid for rent, $37,000; Cash paid to employees for services rendered during the year, 5117,000; Cash paid for utilities, $47.000. In addition, you determine that customers owed the company $57,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,700 at year-end, and the rent...
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $320,000; Cash paid for rent, $36,000; Cash paid to employees for services rendered during the year, $116,000; Cash paid for utilities, $46,000. In addition, you determine that customers owed the company $56,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,600 at year-end, and the rent payment...
Homework 3: Chi HelpS Cash flows during the first year of operations for the Harman Kardon Consulting Company were as follows: Cash collected from customers, $310,000: Cash paid for rent, $34,000; Cash paid to employees for services rendered during the year, $114,000; Cash paid for utilities, $44,000 In addition, you determine that customers owed the company $54,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,400 at...
Exercise 1-2 (Algo) Accrual accounting (L01-2) Listed below are several transactions that took place during the second and third years of operations for the RPG Company. Year 2 Year 3 $250,000 $350,000 160,000 300,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent salaries paid to employees for services rendered during the year Utilities Advertising 70,000 130,000 20,000 10,000 150,000 30,000 25,000 In addition, you learn that the company incurred advertising costs...
Listed below are several transactions that took place during the first two years of operations for the law firm of John, John and Steves. Year 1 Year 2 Amounts billed to customers for services rendered $200,000 $210,000 206,500 Cash collected from customers 193,500 Cash disbursements 75,000 65,000 Salaries paid to employees for services rendered during the year 50,000 30,000 Utilities 48,000 Purchases of insurance policy In addition, you learn that the company incurred utility costs of $40,000 in year 1,...
Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows were recorded cash received for services rendered to clients, $430,000, and cash paid for salaries, utilities, and advertising. $245,000 $36,000 and $13,000, respectively. You also determine that customers owed the company $56.000 and $61,000 at the beginning and end of the year, respectively, and that the company owed the utility company $4,000 and $2.500 at the beginning and end of the year, respectively Complete...
Year 2 Year 3 $260,000 $360,000 170,000 310,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 71,000 131,000 21,000 10,500 0 151,000 31,000 26,000 In addition, you learn that the company incurred advertising costs of $16,000 in year 2, owed the advertising agency $4,100 at the end of year 1, and there were no liabilities at the end of...
Exercise 1-2 (Algo) Accrual accounting (LO1-2) Listed below are several transactions that took place during the second and third years of operations for the RPG Company Year 2 Year 3 $380,000 $480,000 290,000 430,000 Anounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 83,000 143,000 33,000 16,500 163,000 43,000 38,000 In addition, you leam that the company incurred advertising costs...
Most questions answered within 3 hours.
-
The rise of online shopping and Amazon, in particular, has
created major dilemmas for large food/CPG...
asked 2 minutes ago -
Assuming that the wave speed varies little when sound waves are
traveling through a material that...
asked 3 minutes ago -
Is oxygen difluoride polar or nonpolar?
nonpolar
polar
ionic
none of the above
asked 14 minutes ago -
Starting from rest, a car accelerates at a constant rate of 2.6
m/s2 for a time...
asked 11 minutes ago -
A pharmaceutical company wants to answer the question whether
time for a drug in pill form...
asked 13 minutes ago -
) Assume that in the market for widgets, demand is highly
elastic compared to supply. If...
asked 24 minutes ago -
Why is a personal interview the most important step in the sales
selection process? What are...
asked 34 minutes ago -
In Python rOverlap (x1, y1, w1, h1, x2, y2, w2, h2) A rectangle
is axis-aligned if...
asked 34 minutes ago -
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 44 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 45 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 48 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 51 minutes ago