Question: Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $340,000; Cash paid for rent, $40,000; Cash paid to em

Question:

Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows:

Cash collected from customers, $340,000; Cash paid for rent, $40,000; Cash paid to employees for services rendered during the year, $120,000; Cash paid for utilities, $50,000.

In addition, you determine that customers owed the company $60,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $2,000 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.

Don't hesitate - Save time and Excel

Are you overwhelmed by an intense schedule and facing difficulties completing this assignment? We at GrandHomework know how to assist students in the most effective and cheap way possible. To be sure of this, place an order and enjoy the best grades that you deserve!

Post Homework
Top