Ask Experts Questions for FREE Help !
Ask
    leakshg's Avatar
    leakshg Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Aug 15, 2010, 02:12 PM
    Net Income
    If a company has $49,800 in Accounts Payable, $117,375 in Accounts Receivable, $306,000 in Cash and $7,500 in Supplies, what is the net income for this company? Explain answer.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Aug 15, 2010, 08:40 PM

    Please start your own thread for your question rather than tagging onto someone else's. I've moved yours.

    I just worked on this same problem with someone earlier today. Net income cannot be determined with what you included here. Not to mention that there's actually two parts on the net income thing - one with a withdrawal and one without. In other words, you've included about 20% of the entire problem. You cannot get help when you just pick out bits of a problem and don't include most of the necessary information.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Determining net loss/net income from the end of period spreadsheet [ 3 Answers ]

In the end of period spreadsheet/worksheet for the current year, the Debit total is $436,700 and the credit total is $523,550. What is the amount of net loss or net income in preparing the income statement from the end-of-period spreadsheet?

Finding net income before bonuses and income taxes? [ 3 Answers ]

I've tried to do this question, but I'm coming up blank. I've searched the internet and looked in my textbook but can't find anything relating to this problem. A company awards an annual bonus to its managers. The bonus this year was $44,000. The bonus agreement says each branch manager...

Computing net income or net lose [ 1 Answers ]

On December 1, Doris Tuner opened a speech and hearing clinic. During December, her firm had the following transactions involving and expenses. Did the firm earn a net income or incur a net loss for the period? What was the amount? Paid $2,600 for advertising. Provided services for $2,300 in...

Consolidated Net Income Net Adjustment [ 3 Answers ]

I sure could use some help here. Dunn Corporation owns 100% of Grey Corporation’s common stock. On January 2, 2001, Dunn sold to Grey, for $40,000, machinery with a carrying amount of $30,000. Grey is depreciating the acquired machinery over a five-year life by the straight-line method. The net...

View more questions Search