What the net income reported by Waterway Industries

Assignment Help Accounting Basics
Reference no: EM133106919

Question - Waterway Industries started the year with total assets of $314000 and total liabilities of $254000. During the year the business recorded $626000 in revenues, $327000 in expenses, and dividends of $61000. What the net income reported by Waterway Industries for the year?

Reference no: EM133106919

Questions Cloud

What blood test costs would you expect to be incurred : Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which 4,270 blood tests are performed
Prepare a schedule of cost of goods manufactured : The following information was taken from the accounting records of Dunbar Mifflin Company in 2018. Prepare a schedule of cost of goods manufactured
Determine the inventory balances at the end of first month : Transferred $681,000 of work in process to finished goods. Determine the inventory balances at the end of the first month of operations
Analyze cost behaviors in relation to sales volume : Analyze cost behaviors in relation to sales volume and make ethical managerial decisions that positively affect the bottom line
What the net income reported by Waterway Industries : Waterway Industries started the year with total assets of $314000 and total liabilities of $254000. What the net income reported by Waterway Industries
Briefly describe how and when you journalize Petty Cash : Briefly describe how and when you would journalize the following: Petty Cash, Bank Reconciliation, Depreciation and Bad Debts
Is the organization that you work for currently using AI : Is the organization that you work for currently using AI? If yes, how? If not, What to do to implement it for decision-making purposes
What is the additional journal entry at December : Question - On January 1, 2017, A Corp. acquired 8%, $100,000 par value bonds of B Ltd., to yield 6%. What is the additional journal entry at December
Journalize the two treasury stock transactions : On September 1, it sells 240 shares of the treasury stock for cash at $13 per share. Journalize the two treasury stock transactions

Reviews

Write a Review

Accounting Basics Questions & Answers

  What adjusting entry should brickyard make on june

What adjusting entry should Brickyard make on June 30 before preparing its annual financial statements

  Prepare the consolidation worksheet adjusting entries

Prepare the consolidation worksheet adjusting entries for preparation of the consolidated financial statements as at 30 June 2016

  Discuss the lifo method to the fifo method

The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method

  How many extra shares being recognized

Using the treasury stock method, the options would result in how many extra shares being recognized in the diluted EPS calculation

  What factors may impact credit limits authorized

When developing credit policies, which includes risk management and collection strategies, What factors may impact credit limits authorized

  What is the balance due on april

He pays $800 on August 17 and $400 on November 20 of 2010 and $500 on February 2, 2011. What is the balance due on April 18, 2011?

  Discuss five reasons for such emphasis

A total of RM297 billion or 18.4 per cent of the Gross Domestic Product is allocated in Malaysian Budget. Discuss FIVE reasons for such emphasis

  What is the current breakeven point in units

Hess Company manufactures a product that sells for $12 per unit. What is the current breakeven point in units before the newer machine is purchased

  Make the bank reconciliation statements on May

A cheque for Rs.3600 Deposited into bank and cleared by the bank. Make the bank reconciliation statements on May 30 2020

  Explain whether the red car division should accept the offer

Motormart Company manufactures automobiles. Explain whether the red car division should accept the offer. Support your decision showing all calculations.

  Journalize the entry to record the flow of labor costs

Darling Company accumulated 12,000 hours of direct labor costs on Job 50 and 15,000 hours on Job 51. Journalize the entry to record the flow of labor costs

  Inventory complete for materials and conversion costs

Units in ending WIP Inventory were 90% complete for materials and 60% complete for conversion costs

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