What was lele designs economic income for the year, Accounting Basics

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What was lele designs economic income for the year

During 2011, Lele Design earned net income of $250,000. The firm neither bought nor sold any capital assets. The book value of its assets declined by the year's depreciation charge of $200,000. The firm's operating cash flow for the year was $450,000. The market value of its assets increased by $300,000. Please ignore taxes for this problem.

a. What was Lele Design's economic income for the year?
b. Why is this figure different from its accounting income?

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Accounting Basics: What was lele designs economic income for the year

Reference No:- TGS0704823

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Find the total amount of interest that eric

Q : Calculate the interest expense that coley company will show

Q : Research the appreciation rates of single-family

Q : Describe a contribution margin income statement

Q : What was lele designs economic income for the year

Q : How showing the effect of issuing the bonds

Q : Explain the board of directors declares

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was lele designs economic income for the year

Reference No:- TGS0704823

Recent Questions Asked Accounting Basics

Q : Find the total amount of interest that eric

Q : Calculate the interest expense that coley company will show

Q : Research the appreciation rates of single-family

Q : Describe a contribution margin income statement

Q : What was lele designs economic income for the year

Q : How showing the effect of issuing the bonds

Q : Explain the board of directors declares

Q : Describe how the acquisition affects number''s balance sheet

Q : Calculate the decrease in company profits

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