Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. here are the financial figures for white sands cor

Here are the financial figures for White Sands Corp. as of September 30, 2024. Calculate...

90.2K

Verified Solution

Question

Accounting

  1. Here are the financial figures for White Sands Corp. as of September 30, 2024. Calculate the company's net income.

Description

Debit (?)

Credit (?)

Capital Account


350,000

Drawings

40,000


Sales


550,000

Purchases

250,000


Salaries

70,000


Utilities

30,000


Rent

45,000


Miscellaneous Expenses

10,000


Profit and Loss


12,000

Requirements:

  1. Compute total debits and credits.
  2. Determine net income.
  3. Explain the impact of utilities on net income.
Assess the profit and loss balance.

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

What are the 7 criteria for evaluating resources ? Explain each and how will use each...

Psychology
Q

A movie monopolist sells to college students and other adults, as in Worked-Out Problem 18.2 (page...

Advance Math
Q

10 Three point charges q q and 2q are placed at the different vertices of...

Physics
Q

Show me the steps to solve Maben Company was started on January...

Accounting
Q

image
image
image
image

Accounting
Q

What is the net present value of a project with the following cash flows and...

Accounting
Q

= =

Accounting
Q

QUESTION 2 Palat Ltd paid 3600,000 in cash, to acquire 90% percentage of Sanun Ltd...

Accounting
Q

A contribution format income statement classifies costs by a. behavior. b. function. C. constraints. d....

Accounting
Q

answer in excel, write clearly, all steps please. this pipeline project if the discount...

Finance
Q

Manitowoc Crane (U.S.) exports heavy crane equipment to several Chinese dock facilities. Sales are currently...

Accounting
Q

Explain the following questions in detail: - 1. Explain the purpose of a control group...

Accounting