Question 4 The following is selected information from L Corporation for the fiscal year ending October 31, 2014. | eBooks | Education

Question 4 The following is selected information from L Corporation for the fiscal year ending October 31, 2014.

Question 4 The following is selected information from L Corporation for the fiscal year ending October 31, 2014. PLDZ-4374 Free
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Question 4

The following is selected information from L Corporation for the fiscal year ending October 31, 2014.

https://uopcourses.com/category/acc-290/

 

Question 4

The following is selected information from L Corporation for the fiscal year ending October 31, 2014.

 

Cash received from customers

$300,000

Revenue earned

390,000

Cash paid for expenses

170,000

Cash paid for computers on November 1, 2013 that will be used for 3 years

48,000

Expenses incurred including any depreciation

216,000

Proceeds from a bank loan, part of which was used to pay for the computers

100,000

 

Based on the accrual basis of accounting, what is L Corporation’s net income for the year ending October 31, 2014?

 

$220,000

 

$174,000

 

$204,000

 

$158,000

        

 

 

 

Question 4 The following is selected information from L Corporation for the fiscal year ending October 31, 2014. https://uopcourses.com/category/acc-290/ Question 4 The following is selected information from L Corporation for the fiscal year
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