Find how much of the items was included in operating income

Assignment Help Financial Accounting
Reference no: EM132763090

Sith Corporation has provided the following information:

Cash sales totaled $132,000.

Credit sales totaled $286,000.

Cash collections from customers for services yet to be provided totaled $45,000.

An $18,000 gain from the sale of property and equipment occurred.

Interest income totaled $8,400.

Problem 1: How much of these items was included in operating income?

Reference no: EM132763090

Questions Cloud

How do prepare the necessary journal entries for larkspur : Prepare the necessary journal entries for Larkspur. July 12 Sold $86,000 of solar panels to Blue Spruce Corp. with terms of 3/10, n/60.
What is yield to maturity and what is the effective return : If the bond is currently trading on the market at Rp915,500, what is the yield to maturity and what is the effective annual return?
Compute what amount should the inventory be valued : Silent Corporation decided to reclassify/transfer the property, On the date of transfer, what amount should the inventory be valued?
How does the apply to an organization : The final phase of an audit is addressing contingent liabilities and their relation to the audit. Please discuss a review for contingent liabilities.
Find how much of the items was included in operating income : Find How much of the items was included in operating income? Cash collections from customers for services yet to be provided totaled $45,000.
What is inside dose rate : You are taking samples and your R1 dose is 25 cGy/h. You have been in the area for 3 hours and originally entered the area 6 hours after the burst
What gain or loss would the partnership recognize : Keith has a 35?% interest in the KLM Partnership. Leonardo ?(Keith?'s ?son) also has a 20?% interest. An individual unrelated to either Keith or Leonardo holds.
What is the fundamental value in year for company : X's dividend growth rate will be 16.1%. Using the two-stage dividend discount model (DDM), what is the fundamental value in year 2022?
Determining the deductibility of the net operating losses : When a group of corporations comes together to form an affiliated group for tax purposes, individual corporate members in the group may choose to file their.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd