Before making its year-end adjustments the net income for

Assignment Help Accounting Basics

Reference no: EM13576329

Before making its year-end adjustments, the net income for Gannet Company was $80,000. Year-end adjusting entries are necessary for the following items:

1. Office supplies used up during the year totaled $3,200

2. Interest accrued to December 31 on note payable to the bank totaled $900

3. Services performed for clients but not yet collected totaled $2,600.

Calculate Gannet Company's net income for the year after the necessary adjustments are made.

Reference no: EM13576329

Questions Cloud

The najacht division of the rassbach company has a return : the najacht division of the rassbach company has a return on investment roi of 12 sales of 200000 and an asset turnover

Redo this analysis above using macrs 10 years depreciation : you have been asked to help a local company evaluate a major capital expenditure. the company is a new internet company

Larrys lube shop is a local oil change shop and they : larrys lube shop is a local oil change shop and they perform many oil amp filter changes per week and they are trying

The following direct materials and direct labor data : the following direct materials and direct labor data pertain to the operations of batista manufacturing company for the

Before making its year-end adjustments the net income for : before making its year-end adjustments the net income for gannet company was 80000. year-end adjusting entries are

Flower company has 40000 shares of 100 par 2 cumulative : flower company has 40000 shares of 100 par 2 cumulative preferred stock and 20000 shares of 50 par common stock. the

The following direct materials and direct labor data : the following direct materials and direct labor data pertain to the operations of batista manufacturing company for the

Angeliques antiques had 475 worth of supplies on hand at : angeliques antiques had 475 worth of supplies on hand at the beginning of april. during aprilthe store paid 600 for

In the direct labor variance matrix there are three : in the direct labor variance matrix there are three factors 1 actual hours actual rate 2 actual hours standard rate and

User Account

All Pages