Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 28, 2024

during October a firm had the following transactions involving revenue and expence - paid $1325 for rent October -provided services foe $3000 in cash -paid

during October a firm had the following transactions involving revenue and expence

- paid $1325 for rent October

-provided services foe $3000 in cash

-paid 300 for October phone service

-provided service for 2150 on credit

-paid salaries of 1800 to employees

-paid 400 for the monthly office cleaning service

calculate net income or net loss for the period

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Accounting

Authors: Timothy Doupnik, Hector Perera

3rd Edition

978-0078110955, 0078110955

More Books

Students also viewed these Accounting questions

Question

★★★★★

Harter Company, which began operations in 2009, invests its idle cash in trading securities. The following transactions relate to its short-term investments in its trading securities. 2009 Mar. 10...

Answered: 1 week ago

Question

★★★★★

Discuss the concept of the time value of money and explain the term discounted cash flows. LO1

Answered: 1 week ago

Question

★★★★★

A system has a random number of flaws that we will suppose is Poisson distributed with mean c. Each of these flaws will, independently, cause the system to fail at a random time having distribution...

Answered: 1 week ago

Question

★★★★★

Avery Corporations northwestern factory provided the following information for the last calendar year: Beginning inventory: Direct materials ...... $50,800 Work in process ...... 58,500 Ending...

Answered: 1 week ago

Question

★★★★★

4 4 6 . On decreasing the grain size of a polycrystalline material, the property most likely to deteriorate is Creep Toughness Tensile strength Fatigue

Answered: 1 week ago

Question

★★★★★

A stock is currently selling for $46. Over the next two periods, the stock will move up by a factor of 1.35 or down by a factor of 0.89 each period. A call option with a strike price of $62 is...

Answered: 1 week ago

Question

★★★★★

Problem 11. The shares of Microsoft were trading on Nasdaq on January 1 at $41. A Swedish investor purchased 100 shares of Microsoft at that price. The Swedish kroner to dollar exchange rate then was...

Answered: 1 week ago

Question

★★★★★

In the commercial section of the newspaper you come across an ad for a pizza delivery business for sale. upon inquiry, you discover that the owner , who wants to sell the business and then retire,...

Answered: 1 week ago

Question

★★★★★

An applied researcher is developing a new measure of organizational commitment for a study. In order to compare it to an existing measure of organizational commitment, the researcher would compute a...

Answered: 1 week ago

Question

★★★★★

7.5 A large lot of manufactured items contains 10% with exactly one defect, 5% with more than one defect, and the remainder with no defects. Ten items are randomly selected from this lot for sale. If...

Answered: 1 week ago

Question

★★★★★

A composite wall of a furnace has 3 layers of equal thickness having thermal conductivities in the ratio of 1:2:4. What will be the temperature drop ratio across the three respective layers? A. 12:4...

Answered: 1 week ago

Question

★★★★★

1. What do I want to achieve?

Answered: 1 week ago

Question

★★★★★

3. To understand a method for achieving personal communication mastery.

Answered: 1 week ago

Question

★★★★★

3. What is my goal?

Answered: 1 week ago

Previous Question Next Question