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What is Bramble net income for the year ending October

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Reference no: EM132944050

Problem - The following is selected information from Bramble Corp. for the fiscal year ending October 31, 2017.

Cash received from customers $147000

Revenue recognized 220500

Cash paid for expenses 83300

Cash paid for computers on November 1, 2016 that will be used for 3 years 23520

Expenses incurred including any depreciation 116620

Proceeds from a bank loan, part of which was used to pay for the computers 49000

Based on the accrual basis of accounting, what is Bramble's net income for the year ending October 31, 2017?

a. $129360

b. $103880

c. $137200

d. $113680

Reference no: EM132944050

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