User Account

All Pages

What was net income

Assignment Help Accounting Basics
Reference no: EM132693538

Question - The following data pertains to Thompson. Total assets at January 1, 2014, were $310,000; at December 31, 2014, total assets were $382,000. During 2014, sales were $1,072,000; dividends were $14,000; and operating expenses (exclusive of cost of goods sold) were $610,000. Total liabilities at December 31, 2014, were $175,000; at January 1, 2014, total liabilities were $130,000. There were no additional capital investments by Thompson during 2014. What was net income for 2014?

A. $41,000

B. $448,000

C. $462,000

D. $37,000

Reference no: EM132693538

Questions Cloud

Analyze asymmetric and symmetric encryption : You will analyze asymmetric and symmetric encryption.
Potential applications for fleets of self-driving vehicles : What are some of the potential applications for fleets of self-driving vehicles?
Assignment on secure passwords : Then pick and three passwords: one not secure, one acceptable, and one very secure.
System testing and verification : When you would perform system testing? What type of System Testing Types you would implement?
What was net income : Total assets at January 1, 2014, were $310,000; at December 31, 2014, total assets were $382,000. What was net income for 2014
Do research on service-oriented architecture : Do research on service-oriented architecture (SOA) and find three different images/diagram that represents its functions and features.
Information is useful to the stakeholders of the corporation : Describe the purpose of the balance sheet and how this information is useful to the stakeholders of the corporation.
Calculate Sunland earnings per share : Sunland also had 150,000 common shares outstanding during the year. Calculate Sunland's 2020 earnings per share
Design and implementation of applications and databases : What are baseline security requirements that should be applied to the design and implementation of applications, databases, systems, network infrastructure.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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