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

Q

Graph the function and evaluate the following f x x 1 z 1 2x 1...

Basic Math
Q

Multinational Enterprises (MNE) seek to minimise their cost of funding. This has led to the MNEs...

Finance
Q

4.13 Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3× Days sales...

Finance
Q

What is your stance on gun rights? What is your stance on legalization of drugs?

Psychology
Q

What are the biological factors that are pertinent to human wellbeing, behavior, and emotionality?

Biology
Q

A disc of mass m and radius Ris rolling with angular speed w on a...

Physics
Q

each of resistance R A battery of negligible internal resistance is connected across the opposite...

Physics
Q

Question 7 of 9 This question 3 point s possible The amount after 8 years...

Basic Math
Q

A math class consists of 35 students, 20 female and 15 male. Three students are...

Basic Math
Q

Exercise 2-6 972 Company acquired all the net assets of Succo...

Accounting
Q

Journalize the following selected transactions for January. January 1 Issued common stock in exchange...

Accounting
Q

Using the expanded accounting equation, calculate and enter the answers for each question. You will...

Accounting