Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cash flows during the first year of operations for

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

50.1K

Verified Solution

Question

Accounting

Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $305,000; Cash paid for rent, $33,000; Cash paid to employees for services rendered during the year, $113,000; Cash paid for utilities, $43,000. In addition, you determine that customers owed the company $53,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,300 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

37) Which of the following can be transmitted via a fecal-oral route? A) Cyclospora cayetanensis B) Norovirus C) Taenia...

Accounting
1.2K views

Your friend Tom Smith has decided to expand Smith Sales Company. He has acquired an expansion...

Accounting
1.2K views

Case study: 'Got away lightly': Barclays CEO fined $1.1m after trying to expose whistleblower Barclays' chief executive officer...

Physics
1.2K views

35 Which of the shown graphs may represent the reactance of a series L C...

Physics
1.2K views

PASSAGE A step index fiber is made with a core of refractive index 1 36...

Calculus
1.2K views

Y be a function and E F be subsets of Let h X Prove that...

Algebra
1.2K views

The radical expression can be rewritten in the 9 X rational exponent form where xi...

Accounting
1.2K views

QUESTION 41 ABC Analysis By Current Inventory Value - Answer the multiple choice...

Accounting
1.2K views

acquisilion USA Advertising paid $1 90 000 to acqui 580,000. M S Daly a...

Accounting
1.2K views

Organization-sustaining activities are carried out regardless of which customers are served, which products are produced,...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] Ramirez Company...

Finance
1.2K views

6. In class we discussed potential synergies between lending and providing payments services. Regarding information...