computation of net income from given datause the


Computation of net income from given data.

Use the following information to calculate the company's accounting net income for the year.

Credit Sales

$500,000

Cash Sales

$300,000

Operating Expenses on Credit

$400,000

Cash Operating Expenses

$200,000

Accounts Receivable (Beg. of Year)

$20,000

Accounts Receivable (End of Year)

$40,000

Accounts Payable (Beg. of Year)

$50,000

Accounts Payable (End. of Year)

$25,000

Corporate Tax Rate

40%

a. $60,000
b. $120,000
c. $39,000
d. $147,000

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Financial Accounting: computation of net income from given datause the
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