Question: Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $340,000; Cash paid for rent, $40,000; Cash paid to em
Cash flows during the primeval year of operations for the Harman-Kardon Consulting Fraternity were as follows:
Cash firm from customers, $340,000; Cash remunerated for solution, $40,000; Cash remunerated to employees for services rendered during the year, $120,000; Cash remunerated for utilities, $50,000.
In specification, you mention that customers tit the fraternity $60,000 at the end of the year and no bad debts were anticipated. Also, the fraternity tit the gas and electric fraternity $2,000 at year-end, and the solution cancelment was for a two-year era. Calculate accrual net proceeds for the year.