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

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

90.2K

Verified Solution

Question

Accounting

Cash flows during the year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers,$315,000;Cash paid for rent,$35,000;Cash paid to employees for services rendered during the year,$115,000;Cash paid for utilities,$45,000. In addition, you determine that customers owed the company $55,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,500 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

Finance
1.2K views

A bond with a coupon rate of 7 percent sells at a yield to maturity of...

Basic Math
1.2K views

1.    You have an annual salary of $62,000 from which they deduct 3% for medical insurance and...

Statistics
1.2K views

The table below gives the number of hours five randomly selected students spent studying and their...

Biology
1.2K views

Label the amino acid H H group H R Side alpha carbon group H amino...

Statistics
1.2K views

3 Find the percentile corresponding to 4

Calculus
1.2K views

The shape of a colony of bacteria on a Petri dish is circular Find the...

Algebra
1.2K views

Solve the equation 2 3 tan 30 3 5 for a value of 0 in...

Accounting
1.2K views

Lanny Beaudean joined the CPA firm of Cardinal & Coyote LLP in 2008 after working...

Accounting
1.2K views

Which of the following statements regarding ABC is TRUE? A Direct Labor hours are the...

Accounting
1.2K views

You take out a car loan at your local bank for the purchase of a...

Accounting
1.2K views

The information that follows pertains to Esther Food Products: a. At December 31, 2021, temporary...

Accounting
1.2K views

On January 1, 2018, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $260,000...