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

Q

2. The lifetime of light bulb is normally distributed with mean of 1400 hours and standard...

Statistics
Q

1.The range from high to low tide in a particular bay is found to be d...

Physics
Q

Question 1 a) Determine the specific enthalpy of steam at 15 bar and 275°C . b) Determine the...

Mechanical Engineering
Q

In the circuit diagram shown in the adjoining figure the resultant capacitance between P and...

Physics
Q

The article Euthanasia Still Acceptable to Solid Majority in U S summarized data from a...

Statistics
Q

Question 10 A clothing business finds there is a linear relationship between the number of...

Calculus
Q

The number of fatalities in coal mines in a certain country for recent years is...

Calculus
Q

During its first month of operation, Ashley Corporation, which is a furniture Factory completed...

Accounting
Q

Learned Corporation has provided the following information: Cost per Period Cost per Unit $ 5.60...

Accounting
Q

The stock market data given by the following table. R (%) Telmex Mexico World Correlation...

Finance
Q

PROBLEM 6: Valuation of Common Stock A dividend of $0.72 will be paid by Fiper...

Finance
Q

Question 1: To determine a selling price of a recipe or a dish,...

Finance