2019202020192020ash$1,000$1,400Accounts payable$4,100$4,800.ccounts receivable$8,000$2,400Utilities payable$2,600$2,500iventory$16,000 $24,000Salaries payable$5,500$8,200repaid rent$1,200$1,500Notes payable$24,000$30,000quipment$40,000 $40,000Interest payable$2,000$2,400.ccum. depreciation($6,000) ($7,500)Common stock$20,000$20,000and$5,000 $11,000Retained earnings$7,000$4,900$65,200 $72,800$65,200$72,800$26,000 was paid in dividends during 2020 and there was a loss on land sale of $3,000, how much'as net income from operations?$20,900$23,900$23,000$26,900None of the above

please like the answer your response matters Calculate net income Beginning retained earnings…

2019 2020 2019 2020 ash $1,000 $1,400 Accounts payable $4,100 $4,8C Lccounts receivable $8,000 $2,400 Utilities payable $2,600 $2,50 nventory $16,000 $24,000 Salaries payable $5,500 $8,20 repaid rent $1,200 $1,500 Notes payable $24,000 $30,00 quipment $40,000 $40,000 Interest payable $2,000 $2,40 Lccum. depreciation ($6,000) ($7,500) Common stock $20,000 $20,00 and $5,000 $11,000 Retained earnings $7,000 $4,9C $65,200 $72,800 $65,200 $72,8C $26,000 was paid in dividends during 2020 and there was a loss on land sale of $3,000, how much as net income from operations? O $20,900 O $23,900 $23,000 O $26,900 O Non e of the above

2019 2020 2019 2020 ash $1,000 $1,400 Accounts payable $4,100 $4,8C Lccounts receivable $8,000 $2,400 Utilities payable $2,600 $2,50 nventory $16,000 $24,000 Salaries payable $5,500 $8,20 repaid rent $1,200 $1,500 Notes payable $24,000 $30,00 quipment $40,000 $40,000 Interest payable $2,000 $2,40 Lccum. depreciation ($6,000) ($7,500) Common stock $20,000 $20,00 and $5,000 $11,000 Retained earnings $7,000 $4,9C $65,200 $72,800 $65,200 $72,8C $26,000 was paid in dividends during 2020 and there was a loss on land sale of $3,000, how much as net income from operations? O $20,900 O $23,900 $23,000 O $26,900 O Non e of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Amount financed 18200 number of payments 72 monthly payment 425.08 finace charge 12405.76 whats the apr%
I NEED HELPING MAKING THE TABLE Novak Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $27,000 cash to Manny Lopez on a 12-month, 10% note. Dec. 11 Sold goods to Ralph Kremer, Inc., receiving a $74,250, 90-day, 8% note. 16 Received a $95,400, 180 day, 8% note in exchange for Joe Fernetti’s outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable.
Cha Shi lian Trading Co Trial Balance as at 31 Mach 2021 DR CR RM RM Owner's equity, L.M. Teh 3,800,000 Owner's drawings, L.M. Teh 50,000 Office building at cost 5,370,000 Accumulated depreciation-Office building 537,000 Motor vehicles, at cost 370,000 Accumulated depreciation-Motor vehicles 94,000 Equipment, at cost 1,960,000 Accumulated depreciation-Equipment 730,000 Accounts receivable 942,000 Inventory, 1 April 2020 1,880,000 Prepaid insurance 160,000 Bank overdraft 294,000 Accounts payable 722,000 5% Mortgage loan (due 31 December 2025) 3,000,000 Purchases 7,978,000 Sales 12,260,000 Auditors' remuneration 135,000 Sundry expenses 132,000 Pay and allowances 1,140,000 Sales returns 650,000 Utility expenses 160,000 Advertising expenses 195,000 Office expenses 100,000 Mortgage loan interest 150,000 Income tax expense 65,000 21,437,000 21,437,000 Adjustments required for the year ended 31 March 2021 are as follows: i. As at 31 March 2021, the value of Inventory was RM1,100,000. ii.…
Please help
A4
Haradev
Amount financed $8300 number of payments 36 apr 11% whats the finance charge and monthly payment amount
C3.7
2
L. How much interest income should be reported on December 31, 2020 with regards to the note from Company B? 2-2 Notes Receivables The trial balance for BLUE Corporation prepared at December 31, 2020 showed a balance of P4,000,000 for Notes Receivables broken as follows: Notes receivable from Company A Notes receivable from Company B 3,000,000 1,000,000 Total 4,000,000 Additional information: The notes receivable from Company A is a three-year non- interest bearing note, with face value of P3,000,000. The note was received in exchange for a piece of land sold by BLUE on May 1, 2020. The land was carried in the books at the date of sale at P2,600,000. The difference between the face amount of the note and the carrying value of the land was credited to gain on sale of land. The market interest rate for a note of this type is 10%. The notes receivable from Company B bears interest at 10%. The note was received from sale of goods in the normal course of business. The note is dated October…
Sh3
Universal Travel Incorporated borrowed $518,000 on November 1, 2024, and signed a twelve-month note bearing interest at 6% Prinopal and interest are payabl amount of interest payable that should be reported by Universal Travel Incorporated on December 31, 20257 Mutiple Choice 50 $31000 $5.00 $040