Assume that you are the owner of campus connection, which specializes in items that interest students. at the end of january of the current year, you find (for january only) this information:
a. sales, per the cash register tapes, of $112,000, plus one sale on credit (a special situation) of $3,100.
b. with the of a friend (who majored in accounting), you determine that all of the goods sold during january cost $48,000 to purchase.
c. during the month, according to the checkbook, you paid $42,000 for salaries, rent, supplies, advertising, and other expenses; however, you have not yet paid the $1,000 monthly utilities for january on the store and fixtures.
required:
on the basis of the data given (disregard income taxes), what was the amount of net income for january? . (hint: a convenient form to use has the following major side captions: revenue from sales, expenses, and the difference—net income.)

You have just been hired as a financial analyst for barrington industries. unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. so, your first job will be to recreate the firm's cash flow statement for the year just ended. the firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. it earned $5 million in net income during the year but paid $800,000 in dividends to common shareholders. throughout the year, the firm purchased $5.5 million of machinery that was needed for a new project. you have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. what was the firm's end- of-year cash balance? recreate the firm's cash flow statement to arrive at your answer

4.     chef a says that broth should be brought to a boil. chef b says that broth should be kept at an even, gentle simmer. which chef is correct? a. neither chef is correct. b. chef a is correct. c. both chefs are correct. d. chef b is correct. student c   incorrect which is right answer

Juan's investment portfolio was valued at $125,640 at the beginning of the year. during the year, juan received $603 in interest income and $298 in dividend income. juan also sold shares of stock and realized $1,459 in capital gains. juan's portfolio is valued at $142,608 at the end of the year. all income and realized gains were reinvested. no funds were contributed or withdrawn during the year. what is the amount of income juan must declare this year for income tax purposes?