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Author Question: Use the following information to calculate the company's accounting net income for the year. ... (Read 70 times)

mckennatimberlake

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Use the following information to calculate the company's accounting net income for the year.
 
  Credit Sales 800,000
  Cash Sales 500,000
  Operating Expenses on Credit 200,000
  Cash Operating Expenses 700,000
  Accounts Receivable (Beg. of Year) 50,000
  Accounts Receivable (End of Year) 80,000
  Accounts Payable (Beg. of Year) 50,000
  Accounts Payable (End of Year) 100,000
  Corporate Tax Rate 40
  A) 125,000 B) 120,000 C) 240,000 D) 300,000

Question 2

Money-market instruments include
 
  A) T-bills. B) T-bonds.
  C) common stock. D) preferred stock.


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pallen55

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mckennatimberlake

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Reply 2 on: Jul 11, 2018
YES! Correct, THANKS for helping me on my review


scottmt

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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