Business, 01.02.2021 22:40 RandomLollipop
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows:
Cash collected from customers, $300,000
Cash paid for rent, $32,000
Cash paid to employees for services rendered during the year, $112,000
Cash paid for utilities, $42,000
In addition, you determine that customers owed the company $52,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,200 at year-end, and the rent payment was for a two-year period.
Calculate accrual net income for the year.
Answers: 2
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