Can you help me with accounting questions Revenue on account was $8,000. Cash collections from accountsreceivable were $4,500. Operating expenses for the period were$3,200. The company paid dividends of $800. Net income for theperiod was:A. $4,300B. $4,800C. $3,500D. $5,200

Step 1: Definition of Net IncomeNet income is the profit of a company after deducting all expenses,…

Answered: Revenue on account was $8,000. Cash…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

See similar textbooks

Similar questions

General Accounting
A company had total sales revenue of $1,100,000. The beginning accounts receivable balance was $80,000, and the ending accounts receivable balance was $250,000. How much cash was collected from customers during this reporting period? A. $1,250,000 B. $1,030,000 C. $930,000 D. $870,000
Gregg Corp. reported revenue of $1,450,000 in its cash basis income statement for the year ended Dec. 31, Year 7. Additional information was as follows: Accounts receivable, Jan 1, Year 7 $400,000 Accounts receivable, Dec 31, Year 7 $530,000 Under the accrual basis, Gregg would report revenue of O $1,580,000 O $1,035,000 $1,335,000 O $1,505,000
Net income general accounting
Bailey Co earns $27,792 of revenue on account and in $6,256 cash revenue transactions in Year 1. Cash collections of receivables amount to $7,152 in Year 1 with the remainder being collected in Year 2. Based on this information alone the company’s financial statements would show Total Revenue in Year 1 of $_
Company's balance sheet showed total current assets of $4,250, all of which were required in operations. Its current liabilities consisted of $665 of accounts payable, $600 of 6% short-term notes payable to the bank, and $250 of accrued wages and taxes. What was its net operating working capital? $3,025 $3,176 $2,874 $3,335 $3,502
I need this question answer general Accounting
Net income?
Accounts Receivable Balance Beginning accounts receivable were $135,720 and ending accounts receivable were $128,640. All sales were on credit and totalled $1,682,480. Required: Determine how much cash was collected from customers.
General accounting
The balance in Accounts Receivable at the beginning of the period amounted to $2,880. During the period $9,440 of credit sales were made to customers balance in Accounts Receivable amounted to $1,880, and uncollectible accounts expense amounted to $800, then the amount of cash inflow from customers appear in the operating activities section of the cash flow statement would be Multiple Choice $9.640 $9,440 $12.120 Nore of these answers are correct b
A company had beginning accounts receivable of $175,000. All sales were on account and totaled $550,000. Cash collected from customers totaled $650,000. Calculate the ending accounts receivable balance.

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

Revenue on account was $8,000. Cash collections from accounts receivable were $4,500. Operating expenses for the period were $3,200. The company paid dividends of $800. Net income for the period was: A. $4,300 B. $4,800 C. $3,500 D. $5,200