1. Information for Bob's Car Detailing, Incorporated is below: Liabilitie S 120,000 70,000 Date December 31,...

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1. Information for Bob's Car Detailing, Incorporated is below: Liabilitie S 120,000 70,000 Date December 31, 2015 December 31, 2016 Assets 230,000 300,000 If Bob invested an additional $20,000 and paid dividends of $40,000 during the year, what was the net income? 2. Clyde Repair Services started the year with $270,000 of Retained Earnings and ended the year with $340,000 of retained earnings. If Clyde made had a net income of $150,000, what was the amount of dividends paid during the year? 3. Kale started the year with $250,000 of cash and ended the year with $300,000 of Cash. During the year cash receipts equaled $500,000 what was cash disbursements for the year? 4. Kale started with $30,000 of accounts receivable and ended the year with $32,000 of accounts receivable. During the year Kale collected $89,000 on its receivables, how much revenue was charged on accounts receivable? 1. Information for Bob's Car Detailing, Incorporated is below: Liabilitie S 120,000 70,000 Date December 31, 2015 December 31, 2016 Assets 230,000 300,000 If Bob invested an additional $20,000 and paid dividends of $40,000 during the year, what was the net income? 2. Clyde Repair Services started the year with $270,000 of Retained Earnings and ended the year with $340,000 of retained earnings. If Clyde made had a net income of $150,000, what was the amount of dividends paid during the year? 3. Kale started the year with $250,000 of cash and ended the year with $300,000 of Cash. During the year cash receipts equaled $500,000 what was cash disbursements for the year? 4. Kale started with $30,000 of accounts receivable and ended the year with $32,000 of accounts receivable. During the year Kale collected $89,000 on its receivables, how much revenue was charged on accounts receivable?

Answer rating: 100% (QA)

1To determine the net income we can use the formula Net Income Ending Liabilities Additional Investm... View the full answer