What is the company gross income for year

Assignment Help Financial Accounting

Reference no: EM13133982

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: EM13133982

Questions Cloud

How many photons strike the leaf every second : A green leaf has surface area 2.20 cm^2. If solar radiation is 1190 W/(m^2) , how many photons strike the leaf every second? Assume three significant figures and an average wavelength of 504 nm for solar radiation.

How should the plant manager proceed with this request : The supervisor of the Logistic's Department has suggested to the plant manager that a new machine costing $285,000 be purchased to improve material handling operations for the plant's newest product line. How should the plant manager proceed with ..

Product scope and project scope : Describe two differences between Product Scope and Project Scope. Provide illustrations (real or imagined) of how a change to each could arise.

Probability to find fewer than twenty substandard welds : If Smith checks 300 of the 7500 welds completed that shift, what is the probability that he will find fewer than 20 substandard welds?

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

User Account

All Pages