Sandy Company had the following totals for the month of May…

Sandy Company had the following totals for the month of May taken from the payroll records: Salaries $22,000 FICA taxes withheld 1,683 Income taxes withheld 4,583 Medical insurance deductions 500 Federal unemployment taxes 58 State unemployment taxes 397 The journal entry to record the monthly payroll on May 31 would include a

The following is selected information from Ace Corporation f…

The following is selected information from Ace Corporation for the fiscal year ending October 31, 202x.Cash received from customers –  $300,000Revenue recognized – $440,000Cash paid for expenses – $170,000Cash paid for computers on November 1st that will be used for the next 3 years – $48,000Expenses incurred including any depreciation – $216,000Proceeds from a bank loan, part of which was used to pay for the computers – $100,000Using on the accrual basis of accounting, what is Ace Corporation’s net income for the year ending October 31, 2025? Select answer from the options below