{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-13T00:09:08-04:00", "answer_date": "2024-09-13 00:09:08", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10524299", "url": "\/study-help\/questions\/activity-at-the-clarkson-company-for-the-first-six-months-10524299", "question_creation_date_js": "2024-09-13T00:09:08-04:00", "question_creation_date": "Sep 13, 2024 12:09 AM", "meta_title": "[Solved] Activity at the Clarkson Company for the | SolutionInn", "meta_description": "Answer of - Activity at the Clarkson Company for the first six months of 2020 was slow. At the end of June, the company borrowed $ | SolutionInn", "meta_keywords": "activity,clarkson,company,first,six,months,2020,slow,end,june,borrowed,$4,000", "question_title_h1": "Activity at the Clarkson Company for the first six months of 2020 was slow. At the end of June, the company borrowed $4,000. During the", "question_title": "Activity at the Clarkson Company for the first six months of 2020", "question_title_for_js_snippet": "Activity at the Clarkson Company for the first six months of 2020 was slow At the end of June, the company borrowed $4,000 During the first six months of the year, the sales revenue was $12,000, but only $5,000 of that amount was collected in cash Amounts for rent, salaries, and misc operating expenses for the first six months, paid in cash, were $3,000, $2,800, and $200, respectively Supplies costing $1,800 for a new service to be introduced in the second half of the year were ordered on June 15 and received on June 30 The supplies were purchased on account and will be paid for in July In addition, a 2020 corporate property tax bill for $1,200 for the entire calendar year was paid on June 30, 2020 Compute the amount of net income Clarkson Company should report for the six months ended June 30, 2020, using ACCRUAL ACCOUNTING Please Show your work and or explain how you computed your answer ", "question_description": "

Activity at the Clarkson Company for the first six months of 2020 was slow. At the end of June, the company borrowed $4,000. During the first six months of the year, the sales revenue was $12,000, but only $5,000 of that amount was collected in cash. Amounts for rent, salaries, and misc. operating expenses for the first six months, paid in cash, were $3,000, $2,800, and $200, respectively. Supplies costing $1,800 for a new service to be introduced in the second half of the year were ordered on June 15 and received on June 30. The supplies were purchased on account and will be paid for in July. In addition, a 2020 corporate property tax bill for $1,200 for the entire calendar year was paid on June 30, 2020. Compute the amount of net income Clarkson Company should report for the six months ended June 30, 2020, using ACCRUAL ACCOUNTING. Please Show your work and\/or explain how you computed your answer.<\/p>", "transcribed_text": "", "related_book": { "title": null, "isbn": null, "edition": null, "authors": null, "cover_image": null, "uri": null, "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-13 00:09:08", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/business-analytics-communicating\/3-phrase-the-problem-as-a-question-to-help-guide-2005194", "description": "3. Phrase the problem as a question to help guide group discussion. Stating your groups problem as a question adds focus and direction to your deliberations. When formulating a problem-solving...", "stars": 0 }, { "url": "\/a-spreadsheet-containing-selected-financial-information-for-tournament-sporting-goods", "description": "a. Use the information below from Tournment Sporting Goods's annual financial statements to calculate the actual and sustainable growth rate for each year from 2010 - 2014. b. Do you think Tournment...", "stars": 3 }, { "url": "\/study-help\/questions\/activity-at-the-clarkson-company-for-the-first-six-months-10524299", "description": "Activity at the Clarkson Company for the first six months of 2020 was slow. At the end of June, the company borrowed $4,000. During the first six months of the year, the sales revenue was $12,000,...", "stars": 3 }, { "url": "\/study-help\/questions\/a-board-can-micromanage-by-doing-all-of-the-following-5096144", "description": "A board can micromanage by doing all of the following EXCEPT: monitoring the organization's goals and objectives making decisions about hiring and firing staff becoming excessively involved in...", "stars": 3 }, { "url": "\/study-help\/questions\/after-invoicing-a-regular-customer-paintpros-realizes-that-it-billed-1336083", "description": "After invoicing a regular customer, PaintPros realizes that it billed the customer for prep work that was supposed to be free per the estimate. How should a credit memo be created for this customer?...", "stars": 3 }, { "url": "\/study-help\/questions\/the-9percentcouponrate-bonds-of-the-melbourne-mining-company-have-exactly15-1337527", "description": "The 9-percent-coupon-rate bonds of the Melbourne Mining Company have exactly15 years remaining to maturity. The current market value of one of these $1,000-parvaluebonds is $700. Interest is paid...", "stars": 3 }, { "url": "\/study-help\/questions\/23-question-23-adventure-works-recently-launched-a-new-product-1337901", "description": "23. Question 23 Adventure Works recently launched a new product, and the sales data is pouring in. You decide to visualize this data using scatter plots to understand the purchase patterns across...", "stars": 3 }, { "url": "\/study-help\/questions\/why-is-it-crucial-to-adhere-to-the-sixstep-financial-1339542", "description": "Why is it crucial to adhere to the six-step financial planning process for comprehensive financial management? Question 24 options: Because everyone else does For clarity of your services and...", "stars": 3 }, { "url": "\/study-help\/questions\/cassandra-wants-to-produce-consistently-sized-baked-goods-so-she-1341411", "description": "Cassandra wants to produce consistently sized baked goods, so she draws a sample of 12 cashew toffee tarts and weighs them (in ounces). She finds a 90% confidence interval of (3.8, 4.2). Which is the...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/a-is-a-partner-in-the-abc-partnership-under-the-10524298", "next": "\/study-help\/questions\/1501200complete-his-tese-20-pts-this-question-1-pt-10524300" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Activity at the Clarkson Company for the first six months of 2020", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/activity-at-the-clarkson-company-for-the-first-six-months-10524299" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }_id": "1" } }