User Account

All Pages

What was Pharoah net income for the year

Assignment Help Financial Accounting
Reference no: EM132833148

Question - Martha Pharoah Ito began the Pharoah Company by investing $74500 of cash in the business. The company recorded revenues of $556000, expenses of $419000, and had owner drawings of $29500. What was Pharoah's net income for the year?

a. $137000.

b. $182000.

c. $166500.

d. $107500.

Reference no: EM132833148

Questions Cloud

Principles and foundations of entrepreneurship : Entrepreneurship on vending machines and can 3-D print food as in Hot chips - develop an understanding of the principles and foundations of entrepreneurship
How much was the cash payment : Awesome paid freight of ?500 and returned goods worth ?1,000. If the company pays on October 10, how much was the cash payment?
Calculate the value of a european put option to sell : i. Calculate the value of a European put option to sell this stock at $23 in 6 months.
Passenger seat for kleenex tissue : Smith drives along the Road when his nose starts to run. He reaches over to the floor of the passenger's seat for a Kleenex tissue,
What was Pharoah net income for the year : The company recorded revenues of $556000, expenses of $419000, and had owner drawings of $29500. What was Pharoah's net income for the year
How much is the total of debit column in sam trial balance : How much is the total of debit column in Sam's trial balance? Merchandise Inventory, ?19,000.Unearned Sales, ?8,000. Purchases, ?16,000
Jurisdiction over gish on lawsuit : Does the New York Court have jurisdiction over Gish on this lawsuit? Explain your answer.
Why a company might benefit from hiring someone : Go online and search for information that relates to ethical hacking (white hat or gray hat hacking). Choose one of these areas explain why a company might.
Intentional torts and criminal acts : Was the handling of this incident consistent with what you have learned in this module? What is your perspective of violence in sport?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Outstanding accounts receivable will be collectible

Before adjustments for bad debt, company H ended 2014 with regular balances in accounts receivable and the allowance for doubtful accounts of 35,000 and 300 respectively. The company recognized 250,000 of credit sales during the year. They estimate 2..

  What is the monthly break-even point in units sold

What is the monthly break-even point in units sold and in sales dollars? (Round your intermediate calculations and final answers to the nearest whole number.)

  Why it took from when the xbrl concept was invented

Why do you think it took from 1999, when the XBRL concept was invented, until 2009 for the SEC require that public filers adopt?

  What ways are hedge funds different from mutual funds

What are some advantages of raising funds via a financial intermediary (FI) rather than by selling securities to the public - How does each feature affect

  Prepare sales return book from the transactions

Prepare Sales Return Book from the following transactions of M/s Bhandari Electronics for May, 2019.04 M/s Gupta Traders returned the goods Rs. 1,500

  Difference in financial reporting and management accounting

A friend has asked you for some advice: ‘My small business now makes a profit; I am only too aware of this, as I now face a big tax bill each year, when my tax accountant has prepared my annual accounts. What is the difference between financial repor..

  Create a cash budget for each month of the fourth quarter

Prepare a cash budget for each month of the fourth quarter and for the quarter in total. Prepare supporting schedules as needed. (Round all budget schedule amounts to the nearest dollar.)

  What is the estimated cost of common equity

The return on an average stock in the market last year was 15%. What is the estimated cost of common equity using the CAPM?

  Calculate the economic order quantity for a ltd

Calculate the economic order quantity for A Ltd. A Ltd is a customised pencil manufacturer and is projecting sales of R200 000 for 20XX.

  Calculate selling price that will be required for product

Backus, Inc., makes and sells many consumer products. The firm’s average contribution margin ratio is 25%. Management is considering adding a new product that will require an additional $13,000 per month of fixed expenses and will have variable expen..

  The total of the manufacturing overhead costs listed

The total of the manufacturing overhead costs listed above is: The total of the manufacturing overhead costs listed above for December is:

  What amount of cliff encumbrances

Cliff paid $4,200,000 of the invoices received during the year. What amount of Cliff's encumbrances were outstanding at June 30, 2011?

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