Question: I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE The Williams Corporation had the following transactions in November: 1 Services

I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE

I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET

The Williams Corporation had the following transactions in November: 1 Services previously sold in advance of $9,000 were performed. 4 Received $3,000 from customers on account. 15 Performed $5,000 of services on account 22 Customers paid for $500 of services in advance. 28 Received utility bill for $700; will pay next month. 29 Paid $3,000 to employees for their services What is the company's net income for the month? 10,300 (with margin: 0 )

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

On January 1, 2023, Pulaski, Incorporated, acquired a 60 percent interest in the common stock of Sheridan, Incorporated, for $372,000. Sheridan's book value on that date consisted of common stock of...

Q:

I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE The Williams Corporation had the following transactions in November: 1 Services previously sold in advance of $9,000 were...

Q:

I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE The Williams Corporation had the following transactions in November: 1 Services previously sold in advance of $9,000 were...

Q:

I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE The Williams Corporation had the following transactions in November: 1 Services previously sold in advance of $9,000 were...

Q:

True/False Indicate whether the statement is true or false. ____ 1. In accounting, to value means to record a transaction or event. ____ 2. The recognition issue deals with when a business...

Q:

I need help with the following Return to question 7 The general ledger of Jackrabbit Rentals at January 1, 2021, Includes the following account balances: Accounts Debits $ 53, 508 Credits 2.5 Cash...

Q:

I need help with the following Return to question 7 The general ledger of Jackrabbit Rentals at January 1, 2021, Includes the following account balances: Accounts Debits $ 53, 508 Credits 2.5 Cash...

Q:

I need help with the following Return to question 7 The general ledger of Jackrabbit Rentals at January 1, 2021, Includes the following account balances: Accounts Debits $ 53, 508 Credits 2.5 Cash...

Q:

I need help with the following Return to question 7 The general ledger of Jackrabbit Rentals at January 1, 2021, Includes the following account balances: Accounts Debits $ 53, 508 Credits 2.5 Cash...

Q:

Can someone explain how to do this and how to apply each of these transactions to accounting framework in detail? Thanks! Question 27 0/1 pts The Williams Corporation had the following transactions...

Q:

Evaluate the potential gains and losses for forwards,future,call options,put options and swaps. Outline and describe the different risks that each type of derivative contract faces. Describe...

Q:

For each of the following, diagnose which type of economic ahock has hit the economy: a. On your drive to campus you hear a radio report describing how the recession appears to have ended and while...

Q:

If your library has a common stock investment advisory service such as Moodys Handbook of Common Stocks or online access to an investment advisory service such as Value Line Research Center:...

Q:

Dividends provide signals about a firm s future prospects, whereas some investors might misinterpret why a firm is repurchasing stock.

Q:

Suppose that you are working in a networking company, and you have been asked to design a network for a Bank of Palestine, which has the main branch in Ramallah, in addition to several branches in...

Q:

What is the difference between credit and debit card?

Q:

1. For the meeting that will start with Penny, what are the BATNA and the reservation price of the BBTs shareholders, in terms of average expected value? Explain your calculations. (2 marks) 2. What...

Q:

9. Let f(x) = x + 1. (a) Compute f(0), f(-1),f () and f(v2). (b) For what values of x is it true that (i) f(x) = f(-x)? (ii) f(x + 1) = f(x) + f(1)? (iii) f(2x) = 2f(x)? 10. The cost of producing x...

Q:

Write notes on the following What is Disaster and Disaster Risk Management Cycle Multi-criteria decision making Hazard, Vulnerability, Risk and Risk Transfer

Q:

Do you agree or disagree with the argument that technical problems do not require leadership?

Q:

Jayson has identified that he will need buy-in to create and launch Calicos career planning initiative. Identify some stages that will have to take place in the development of the career planning...

Q:

Do you agree with the results/recommendations?

Q:

If employees are properly selected, there should be no need for an orientation program or training. Do you agree or disagree? Why?