What is the company gross income for the year

Assignment Help Financial Accounting

Reference no: EM13133978

Cianci Accounting Services had $100,000 in gross receipts for the year. It cost the company $35,000 to lease and operate its offices for the year. The company's landlord gave the company a $100 monthly discount in return for accounting services. One client gave the company a computer with a retail price of $2,500 and a fair market value of $2,000 in exchange for accounting services. Based on these facts, what is the company's gross income for the year

Reference no: EM13133978

Questions Cloud

What is the company gross income for year : One client gave the company a computer with a retail price of $2,500 and a fair market value of $2,000 in exchange for accounting services. Based on these facts, what is the company's gross income for the year

How many moles of hydronium ions will be released : 10.00 mL of a solution containing 0.17 M NaCl and 0.23 M AlCl3 is introduced into a fully charged cation exchange column. How many moles of hydronium ions will be released by the column?

Concept of accounting recognition : The management of Lopez estimates that this recall would cost $800,000. What accounting recognition, if any, should be accorded this situation?

Describe some of the information a good ais : Describe some of the information a good AIS could have provided for this firm and that, if provided in a timely manner, could have helped avoid some of its problems.

What is the company gross income for the year : One client gave the company a computer with a retail price of $2,500 and a fair market value of $2,000 in exchange for accounting services. Based on these facts, what is the company's gross income for the year

Find the npv if reinvestment rate is given : The reinvestment rate for these funds is 3 percent. Anderson uses an 13 percent required return on this project. what is the NPV?

The advantage of online shopping : the advantage of online shopping

Explain how you structured the chart of accounts : Ollie Mace has recently been appointed controller of S. Dilley & Company, a family-owned manufacturing firm founded 28 years ago. The firm manufactures automotive parts. Its four major operating divisions are heat treating, extruding, small parts ..

Calculate the change in energy of the gas : A gas expands and does P-V work on the surroundings equal to 323 J. At the same time, it absorbs 145 J of heat from the surroundings.

User Account

All Pages