Lewis company began operations on february 1, 2016, and experienced the following events during the year:

1. earned $300,000 of revenue on account.
2. collected $250,000 cash from accounts receivable.
3. paid $110,000 cash for salaries expense.
4.
adjusted the accounting records to reflect management's belief that $6,000 of the accounts receivable balance would be uncollectible. lewis uses the allowance method of accounting for uncollectible accounts.

what is the lewis company's net income for 2016?

a) $184,000

b) $190,000

c) $250,000

d) $300,000

A) $184,000

Explanation:

The company uses the allowance method of accounting for uncollectible accounts, so the expense for bad debt to adjust Allowance for Doubtful Accounts: $6,000

The table below describes the way of calculating net income in 2016:

Revenue (1)                            $300,000

Salaries expense  (2)             $110,000

Bad debt expense (3)             $6,000

Net income (1)-(2)-(3)                $184,000

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation:

if you do not file your taxes you will not have a job, and you credit rate will go down.