During the month of March 2017, Weimar World, a tax-preparation service, had the following transactions. * Billed $496,000 in revenues on credit * Received $164,000 from customers' accounts receivable * Incurred expenses of $194,000 but only paid $87,700 cash for these expenses * Prepaid $22,220 for computer services to be used next month What was the company's accrual basis net income for the month?
Select one:
A. $302,000
B. $264,080
C. $ 41,860
D. $408,300
E. None of the above
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “During the month of March 2017, Weimar World, a tax-preparation service, had the following transactions. * Billed $496,000 in revenues on ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A company's beginning Work in Process inventory consisted of 40,000 units that were 90% complete with respect to direct labor.
Answers (1)
How is the burden of the tax shared between buyers and sellers? Buyers bear A. three-fourths of the burden, and sellers bear one-fourth of the burden. B. two-thirds of the burden, and sellers bear one-third of the burden. C.
Answers (1)
If you can make $25,000 a year teaching, $20,000 a year writing computer programs, $30,000 a year driving a cab, and $40,000 a year as an actor or actress. you have a comparative advantage in
Answers (1)
A contingency clause may require the sale of the buyers ___. a. rental property c. assests b. current home d. none of the above
Answers (1)
Poole is 45 years old and unmarried. Assume that he is subject to a 15% tax bracket. He had adjusted gross income of $30,000.
Answers (1)
New Questions in Business
A tile manufacturer had the following financial dа ta: Boxes of tile produced and sold 240,000 Sales Revenue $1,280,000 Variable Manufacturing cost $456,000 Fixed manufacturing cost $320,000 Variable selling, general and administrative expense
Answers (1)
Yeaman Company manufactures luggage sets. Yeaman sells its luggage sets to department stores. Yeaman expects to sell 1 comma 850 luggage sets for $ 345 each in January and 2 comma 250 luggage sets for $ 345 each in February. All sales are cash only.
Answers (1)
Button Transportation purchases many pieces of office furniture with an individual cost below $200 each.
Answers (1)
Which of the following statements is most consistent with efficient inventory management? The firm has a: a. low incidence of production schedule disruptions. b. below average total assets turnover ratio. c. relatively high current ratio.
Answers (1)
Units to be Assigned Costs Oak Ridge Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots from the Casting Department are rolled into steel sheet.
Answers (1)