Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. alpha corporation is a service company. alpha has

Alpha Corporation is a service company. Alpha has the following balances at the start of...

60.1K

Verified Solution

Question

Accounting

Alpha Corporation is a service company. Alpha has the following balances at the start of January 2020: Accounts Receivable $ 6,000 Accounts Payable $ 4,000 Cash $ 8000 Land $ 20,000 Alpha has the following balances at the start of January 2021: Accounts Receivable increased by 50% Accounts Payable decreased by 50% Cash increased by 25% Additional Land was purchased for $10,000. During 2020: New Shares issued = $10,000 Dividends = $5,000 Required: Calculate Net Income for the year ending 2020.

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

Q

Blue Company sold 30,000 units of its only product and incurred a $85,000 loss (ignoring taxes)...

Advance Math
Q

Select the lightest W12 for the conditions described, using Fy = 50 ksi and Fu =...

Civil Engineering
Q

In a DVE Viscometer experiment, what does the Torque percentage shown on the screen signify? Course: Fluid Power...

Mechanical Engineering
Q

21 22 A thin rod of mass m and length L lies on a frictionless...

Physics
Q

Given the vector u angle in which the vector points measured counterclockwise 0 3 1...

Basic Math
Q

Compare the use of accrual accounting in federal government financial reporting with the use of...

Accounting
Q

Foyert Corp requires a minimum $30,000 cash balance. Loans taken to meet this requirement cost...

Accounting
Q

Required information Skip to question [The following information applies to the questions displayed below.]...

Accounting
Q

Question 5 1 pts Which of the following steps should you take to replace a...

Accounting
Q

Comprehensive Accounting Cycle Review 6 On December 1, 2017, Splish Brothers Inc, had the account...

Accounting
Q

need answers to parts a-d Bond prices and ylelds. Assume that...

Finance
Q

Which of the following statements about treasury arbitrage is correct? Select ALL that apply. Review...

Finance