In Year 1. Lee Inc. billed its customers $62,000 for services performed. The company collected $51,000 of the amount billed. Lee ncurred $39,000 of other operating expenses on account. Lee paid $31,000 of the accounts payable. Lee acquired $40,000 cash
from the issue of common stock. The company invested $21,000 cash in the purchase of land.
What amount of revenue will Lee report in the year 1 income statement?

$62,000

Step-by-step explanation:

Given the following :

Amount billed for services performed = $62,000

Bulled amount collected = $51,000

Operating expenses incurred = $39,000

Account payable = $31000

Cash from issue of common stock = $40,000

Cash invested on land purchase = $21,000

Amount of revenue to be reported in income statement : will be the total amount earned from the goods sales and services rendered. Hence, since the billing Given by Lee for the services rendered in Year 1 is reported as $62,000, Hence the amount of revenue to be reported in the income statement will be $62,000

76%

step-by-step explanation:

24% are dogs and the remaining is 76% because 100-24=76

x + y = 90 5x – 10y = 90 90 – 10y = 5x 90 + 10y = 5x

step-by-step explanation:

last month maria hiked the 5-mile mountain trail a number of times and she hiked the 10-mile canal trail several times. let x represent the number of times she hiked the 5-mile trail, and let y represent the number of times she hiked the 10-mile trail. if she hiked a total of 90 miles, which equation can be used to find the number of times maria hiked each trail? x + y = 90 5x – 10y = 90 90 – 10y = 5x 90 + 10y = 5x