User Account

All Pages

What was abc inc net income for the year

Assignment Help Accounting Basics
Reference no: EM132612781

The following amounts appeared in the accounting records of ABC Inc.for the year:

Operating expenses $25000

Sales revenue $400000

Interest expense $50000

Dividends paid $ 1 5000

Income tax expense $75000

Deferred revenue $50000

Question 1: What was ABC Inc.'s net income for the year?

Reference no: EM132612781

Questions Cloud

Total cost of ownership : The production manager has asked you to purchase a replacement numerically controlled (NC) plasma-cutting machine for the metal fabrication shop.
Improve ethics codes within health care organizations : Suggest two possible strategies to improve ethics codes within health care organizations.
Calculate investing cash flows for the year : Calculate Investing Cash Flows for the year. Opening cost of equipment $ 600000. Opening accumulated depreciation of equipment $ 300000
Explain the procedures required to connect drains : Explain the procedures required to connect drains and sewers to a construction - connect main drains to local authority sewers are assessed against relevant
What was abc inc net income for the year : What was ABC Inc.'s net income for the year? Dividends paid $ 1 5000. Income tax expense $75000. Operating expenses $25000
How do calculate the average days in inventory : Calculate the average days in inventory.Inventory, December 31, year 1, debit balance 90000. Inventory, December 31, year 2, debit balance 90000
Describes the auditor procedures : Describes the auditor's procedures and focus with respect to the inventory count? The largest shop is in Toronto and 35% of all inventory is held there.
What the adjusted cash balance per books on april is : What the adjusted cash balance per books on April 30 is? Yanzi Company gathered the reconciling information in preparing its April
Advanced corporate reporting assignment : Advanced Corporate Reporting Assignment Help and Solution, London School of Business and Finance - Assessment Writing Service

Reviews

Write a Review

Accounting Basics Questions & Answers

  In the current year hanna company reported warranty expense

in the current year hanna company reported warranty expense of 192000 and the warranty liability account increased by

  Weaver companys predetermined overhead rate is 1800 per

weaver companys predetermined overhead rate is 18.00 per direct labor-hour and its direct labor wage rate is 16.00 per

  Explain procedures in auditing the provision

ABC Bank is one of the second-tier banks in Hong Kong, providing a variety of banking services and products to a broad range of customers in Hong Kong.

  Calculating federal income tax liability for the individual

Explain qualification of dependency as it relates to claiming dependent exemptions from taxable income.

  Discuss how much did guo pay in cash dividends

How much did Guo pay in cash dividends, and what were its average assets

  Prepare process accounts and profit and loss accounts.

Management expenses during the year were Rs 80,000 and selling expenses were Rs 50,000. These are not allocable to the processes.

  What are harold realized and recognized gain or loss on sale

Harold owns 60 shares of stock in Becker Corporation. His adjusted basis for the stock is $101,000. On December 15, 2015, he sells the stock for $84,000.

  Prepare post-closing trial balance

Prepare post-closing trial balance, Discuss the financial position of Trap Adventures, Inc. using the following ratios

  Prepare the journal entry to dispose of the machinery

On 31 December 2019, owing to a change of product mix the machinery was sold for $80,000. Prepare the journal entry(ies) to dispose of the machinery

  Retail inventory method the records of mandy

Retail Inventory Method the records of Mandy's Boutique report the following data for the month of April.

  Determine the total amount of interest expenses

Determine the total amount of interest expenses over the life of the bonds payable for the following independent situations

  What are areas in which bega cheese conducts its operations

What are the areas in which Bega Cheese conducts its operations? Which particular laws/regulations affect its operations? You need to list SIX laws/regulations.

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