The following is selected information from Sunland Corporation for the fiscal year ending December 31, 2022....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following is selected information from Sunland Corporation for the fiscal year ending December 31, 2022. Cash received from customers $328000 Revenue recognized 514000 Cash paid for expenses 315000 Cash paid for computers on January 2 (annual depreciation is $22000) 90000 Expenses incurred (excluding any depreciation) 345000 Proceeds from bank loan 122000 Owner drawings 67000 What is Sunland Corporation's net income for the year ending December 31, 2022? O $22000. O $147000. O $179000. O $269000. The following is selected information from Sunland Corporation for the fiscal year ending December 31, 2022. Cash received from customers $328000 Revenue recognized 514000 Cash paid for expenses 315000 Cash paid for computers on January 2 (annual depreciation is $22000) 90000 Expenses incurred (excluding any depreciation) 345000 Proceeds from bank loan 122000 Owner drawings 67000 What is Sunland Corporation's net income for the year ending December 31, 2022? O $22000. O $147000. O $179000. O $269000.
Expert Answer:
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
Posted Date:
Students also viewed these accounting questions
-
The following is selected information from Bob Touret, Inc.s financial statements. Solve for the missing amounts for each of the five years. You may have to use some numbers from the year before or...
-
The following is selected information from Bob Touret, Inc.'s financial statements. Solve for the missing amounts for each of the five years. You may have to use some numbers from the year before or...
-
For the fiscal year ending December 31, how will consolidated net income of this business combination be determined if Hill acquires all of Lorings stock? a.Hills income for the past year plus...
-
Determine the force in member GC of the truss and state if this member is in tension or compression. Units Used: kip = 103 lb Given: F1 = 1000 lb F2 = 1000 lb F3 = 1000 lb F4 = 1000 lb a = 10 ft =...
-
An experiment consists of two trials. The first is tossing a penny and observing whether it lands with heads or tails facing up; the second is rolling a die and observing a 1, 2, 3, 4, 5, or 6. a....
-
Water and then oil (which dont mix) are poured into a U-shaped tube, open at both ends. They come to equilibrium as shown in Fig. 10-49. What is the density of the oil?. 9,41 cm 27.2 Oil em Water
-
Why is it important to keep a chart of all deadlines during the appellate process?
-
Accountants for Johnson, Inc. have assembled the following data for the year ended December 31, 2015: Prepare Johnsons statement of cash flows using the indirect method. Include an accompanying...
-
Identify business opportunities and how they avoid mistakes. Please give examples.
-
Tammy Touchtone operates a talent agency called Touchtone Talent Agency. Some clients pay in advance for services; others are billed after services have been performed. Advance payments are credited...
-
1. Show the final AVL tree after performing an "insert 34" operation. 0020 0010 0030 0005 0025 0040 0035 0045 2. Show the final Splay tree after performing a "find 70" operation. 0010 0030 0020 0040...
-
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor $ 32,000 $ 4,860 $...
-
Upsidedown Cake Company produces dessert products for sale in grocery stores, but it also has a retail location. At the end of 2 0 2 3 , the company had $ 3 89 , 0 0 0 in accounts receivable before...
-
2.5.5 Calculate the value of each of the following summations: (a) =4h (b) 1 51 74 Chapter 2: Patr (c) =15 (d) , 2* (e) (9 m) 2.5.6 Calculate the value of each of the following summations: (2) (4i...
-
//a3.h // Name : #include "cmpt_error.h" // These are the only #include // files you can #include. #include // Don't remove or change #include // any of them, and don't #include // #include any...
-
For the past year, a firm had sales of $41,987, interest expense of $3,232, cost of goods sold of $16,500, selling and administrative expense of $11,000, and depreciation of $6,200. If the tax rate...
-
What is the de Broglie wavelength of a particle that is constrained to move on a circular track (motion in one dimension along the circumference of the track)? a) n = TR b) n = 3. R 2 c) n = 2R d) n...
-
Swifty company is a publicly held corporation whose $1 par value stock is actively traded at $30 per share. The company issued 3400 shares of stock to acquire land recently advertised at $93000. When...
-
On January 1, 2014, Macon Manufacturing borrows $500,000 and uses the money to purchase corporate bonds for investment purposes. Interest rates were quite volatile that year and so were the fair...
-
Alliant Energy just received regulatory approval for its 2014 electricity rate. The company has been authorized to charge customers $0.10 per kilowatt-hour (kwh), a rate lower than other utilities in...
-
Moto-Lite Company is an original equipment manufacturer of high-quality aircraft engines that it traditionally has sold directly to aero clubs building their own aircraft. The engines selling price...
-
If X is a binomial random variable with n trials and success probability p, the standard deviation of X is X = __________________ . In Exercises 57, fill in each blank with the appropriate word or...
-
Refer to Problem 5. Find the standard deviation of the number of pets. Problem 5 The following table presents a probability distribution for the number of pets each family has in a certain...
-
Following is the probability distribution for the age of a student at a certain public high school. a. Find the variance of the ages. b. Find the standard deviation of the ages. x 13 14 15 16 17 18...
Study smarter with the SolutionInn App