Accounting homework help!? - can you snowboard with a repaired acl
Help with this accounting problem?
Here lies the problem:
The Edge radical and a ski shop opened in November 2006. The company holds careful records of all payments in cash. The following information is available at the end of the ski season, April 30, 2007.
Deposits Withdrawals
Issuance of shares 20,000 $
The payment for the repair of equipment $ 9200
Rents 1225
Newspaper advertising 375
The payment of utility bills 970
Part-time Assistant salary payments of 2600
The payment of income tax 10,000
Cash receipts and Ski
Snowboard repair 32,150
Subtotal 52,150
Cash 27,780
Total 52150 52150
We are told that the repair kit has an estimated useful lifeLife of 5 years. The company rents space at a price of $ 175 per month for a one-year lease. The lease requires the payment of the first and last months'ended 30th April 2007.
My teacher told us that we should receive a net income of $ 16,665 .... I do not understand it! Please help
Wednesday, February 17, 2010
Can You Snowboard With A Repaired Acl Accounting Homework Help!?
1 comment:
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