estherdinhllama
13.02.2020 •
Business
Determine the net income of a company for which the following information is available for the month of July. Employee salaries expense $192,000 Interest expense 22,000 Rent expense 32,000 Consulting revenue 448,000 Multiple Choice $694,000. $448,000. $266,000. $246,000. $202,000.
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Ответ:
$202,000
Explanation:
Given that,
Employee salaries expense = $192,000
Interest expense = 22,000
Rent expense = 32,000
Consulting revenue = 448,000
Net income:
= Consulting revenue - Employee salaries expense - Interest expense - Rent expense
= $448,000 - $192,000 - $22,000 - $32,000
= $202,000
Therefore, the net income of a company is $202,000.
Ответ:
$213,210
Explanation:
The computation of the amount needed to pay back is shown below:
= Note payable + interest expense for 2 months + interest expense for 4 months
where,
Note payable is $207,000
Interest expense for 2 months is
= $207,000 × 6% × 2 months ÷ 12 months
= $2,070
The 2 months is calculated from Nov to Dec 31
And, the interest expense for 4 months is
= $207,000 × 6% × 4 months ÷ 12 months
= $4,140
The 4 months is calculated from Dec 31 to May 1
So, the total amount needed is
= $207,000 + $2,070 + $4,140
= $213,210