- Cash Flows During The First Year Of Operations For The Harman Kardon Consulting Company Were As Follows Cash Collected 1 (23.99 KiB) Viewed 52 times
Cash flows during the first year of operations for the Harman-Kardon Consulting
Company were as follows: Cash collected from customers, $305,000; Cash paid for rent, $33,000; Cash paid to employees for services rendered during the year, $113,000; Cash paid for utilities, $43,000. In addition, you determine that customers owed the
company $53,000 at the end of the year and no bad debts were anticipated. Also, the
company owed the gas and electric
company $1,300 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year. Net income