Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in june, blackfly ltd. received a $5,000 cash paym

In June, Blackfly Ltd. received a $5,000 cash payment for work performed & billed the...

50.1K

Verified Solution

Question

Accounting

image

In June, Blackfly Ltd. received a $5,000 cash payment for work performed & billed the previous month. The company replanted a clear-cut area of northern Alberta for which it sent out an invoice for $20,000. At the beginning of the month the company had $1,000 of trees for planting. During the month the company purchased $4,000 more, and at the end of the month it was left with trees that had cost $1,500. The company's expenses were $1,000 in rent for its office and $3,000 in other expenses. Amortization on the truck and office equipment was calculated to be $1,500. The income tax rate is 10%. Total expenses for the month of June were 0 $9,000 none of the listed answers are correct $7,500 $8.000

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

Physics
1.2K views

Masses coupled through springs is a model for the behavior of atoms in a crystal. Consider...

Economics
1.2K views

in 300 to 400 words, . Why is Germany so successful at international trade? What has happened...

Basic Math
1.2K views

88 0 Find the surface area of the cone 105 6 6m O 150 8...

Basic Math
1.2K views

If you rolled a die, what is the probability that you would roll a 4...

Statistics
1.2K views

Univariate Determine whether the claim stated below represents the null hypothesis or the alternative hypothesis...

Algebra
1.2K views

Marchetta Bakery uses fine sugar brown sugar confectioner s sugar and honey The purchase prices...

Algebra
1.2K views

Solve the inequality ite the 5x 2 4x 7 x 3 0 Select the correct...

Accounting
1.2K views

15. Calculating Profitability Index YEAR Cash flow ...

Accounting
1.2K views

1-14 Martinez Companys relevant range of production is 7,500 units to 12,500 units....

Accounting
1.2K views

Pisa, Inc. leased equipment from Tower Company under a four-year lease requiring equal annual payments...

Accounting
1.2K views

Beacon Company is considering automating its production facility. The initial investment in automation would be...

Finance
1.2K views

Hank's Barbecue just paid a dividend of $1.60 per share. The dividends are expected to...