User Account

All Pages

Calculate the net income of the year

Assignment Help Accounting Basics
Reference no: EM133164720

Question - These items are taken from the financial statements of Pina Colada Corp. at December 31, 2022.

Buildings $106800

Accounts receivable 11800

Prepaid insurance 4680

Cash 11840

Equipment 82000

Land 61600

Office expense 580

Income tax expense 200

Depreciation expense 5100

Interest expense 2400

Common shares 62000

Retained earnings (January 1, 2022) 40000

Accumulated depreciation--buildings 45800

Accounts payable 8400

Income taxes payable 1000

Bank loan payable (due July 1, 2024) 93800

Accumulated depreciation - equipment 18720

Interest payable 3600

Sales 13680

Required - Calculate the net income of the year.

Reference no: EM133164720

Questions Cloud

Pros and cons of using the payback period : As we have learned about capital investment and how it applies to Human Resources, please discuss the following:
How much has down home foods included for intangibles : How much has Down Home Foods included for intangibles in its offer of $7,300,000
Financial result in global exchange : Examinations of public pay are additionally often made based on buying power equality (PPP), to adapt to contrasts in the average cost for basic items in variou
Cash basis accounting and accrual basis accounting : In Principles of Accounting I, you learned the difference between cash basis accounting and accrual basis accounting. These principles were reintroduced in Chap
Calculate the net income of the year : These items are taken from the financial statements of Pina Colada Corp. at December 31, 2022. Calculate the net income of the year
Managing the interview scheduling with the candidate : This individual assignment requires each individual student to independently reflect on the entire learning process when completing Group Assignment
Illustrating the cognitive component : Provide links to two print ads, one illustrating the affective component and the other illustrating the cognitive component.
Effective and creative brands on social media : You will identify TWO effective and creative brands on social media, one on Instagram and one on SnapChat. What features drew you to this specific brand?
Provide the adjusting journal entry for each transactions : Provide the adjusting journal entry for each of the following transactions. Please be sure to provide clarity as to which account is debited and which is credit

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd