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Selling, general, and administrative expenses were $132,000; net sales were $600,000; interest expense was $14,200; research and development expenses were $63,000; net cash provided by operating activities was $159,300; net income was $33,600; income tax expense was $15,200; cost of goods sold was $330,000.Required:a. Calculate operating income for the period.b. Calculate net income for the period.
Calculate balances for each of the t-accounts and then prepare an adjusted trial balance as of December 31, 2012.
nitkse company purchased at a cost of 10500 and used 3500 kg of materials during may. nitkses standard cost of
investment in trading securities-journal entriesprepare the journal entries to account for the following investment
There are three partners in Stewart Enterprises: Stewart, Tedder and Armstrong. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners.
a corporation has 2 divisions division 1 and division 2. division 1 makes product a product b and product c. those
product a requires 5 machine hours per unit to be produced product b requires only 3 machine hours per unit and the
Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.
part j88 is used in one of quinney corporations products. the company makes 3000 units of this part each year. the
in 2009 jed james began planting a vineyard. the cost of the land preparation labor rootstock and planting were
jarvie loves to bike. in fact he has always turned down better paying jobs to work in bicycle shops where he gets an
Identify the four basic financial statements. Describe the purpose of each of the four financial statements.
Analysis of county revenues shows that approximately 50 percent are from the sales tax. The year end fund balance is entirely classified as Unassigned.
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