User Account

All Pages

How much is the net income for the year

Assignment Help Accounting Basics
Reference no: EM133111344

Question - Elijh Company keeps limited records.  Its assets and liabilities at the beginning and end of the current year are as follows:

 

Beginning

Ending

Cash in bank

P 30,000

P 50,000

A/R, net

50,000

70,000

Merchandise inventory

100,000

80,000

Accounts payable

40,000

20,000

Notes payable - bank

20,000

25,000

Equipment, net

80,000

60,000

During the year the owner withdrew cash of P120,000 and made additional investment of P150,000. How much is the net income (loss) for the year?

Reference no: EM133111344

Questions Cloud

Explain the personal financial advisor : If you were a personal financial advisor, how would you advise a 30 year old couple to plan for retirement if they had made no plans for retirement yet and had
What is the purpose of a petty cash fund : What is the purpose of a petty cash fund? Name 3 principles of internal control. Explain each in 1-2 sentences
How much is the bonus given to Jfenix : Jfenix will be given a bonus of 10% of net income after interest, salary and bonus. How much is the bonus given to Jfenix
How much is left for you after all taxes are paid : You are a unitholder in a real estate investment trust. The assets are held within a REIT that earns $5 per unit before taxes. Once it has paid taxes, it will d
How much is the net income for the year : During the year the owner withdrew cash of P120,000 and made additional investment of P150,000. How much is the net income (loss) for the year
Calculate the expected return of stock : a. Given the following data: State of Economy Return on Stock A (%) Return on Stock B (%) Bad 7.3 -4.7 Normal 11.5 5.4 Good 16.6 24.3
Medicare and medicaid were created : Why is it that despite a general sentiment against government involvement in healthcare, Medicare and Medicaid were created?
What are the related journal entries : The unadjusted retained earnings are P1,250,000. What are the related journal entries on the 1st share dividends
Which bond has the higher? ytm : Assume that an investor is looking at two? bonds: Bond A is a 15?-year, 11?% ?(semiannual pay) bond that is priced to yield 11.5%. Bond B is a 15?-year, 10?% ?(

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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