The following is selected information from pina colada corp. for the fiscal year ending october 31,
3 answers
Question:
The following is selected information from pina colada corp. for the fiscal year ending october 31, 2022. cash received from customers $33 revenue recognized 484000 cash paid for expenses 187000 cash paid for computers on november 1, 2021 that will be used for 3 years 52800 expenses incurred including any depreciation 237600 proceeds from a bank loan, part of which was used to pay for the computers 11 based on the accrual basis of accounting, what is pina colada's net income for the year ending october 31, 2022?
Answers
Pina Colada's net income for the year ending October 31, 2022 is $246,400.
Explanation:
Net income = Revenue recognized - Expenses incurred including depreciation
= $484,000 - $237,600
= $246,400
Therefore, Pina Colada's net income for the year ending October 31, 2022 is $246,400.
a ab
month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87
month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15
month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23
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