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For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for Pilkey Co. for the year ended December 31, 2010: (a) Cash collected from customers during the year amounted to $882,000, and accounts receivable increased by $41,200. How much were sales on account for the year ended December 31, 2010? Revenues earned $ b)Cash payments for income taxes during the year were $237,000, and income taxes payable increased by $35,700. How much was income tax expense? Expense Incurred $ (c) Cash paid to suppliers during the year amounted to $677,000, accounts payable decreased by $26,400, and inventories decreased by $11,300. How much was cost of goods sold? Expense Incurred $ (d) The net book value of buildings increased by $163,000. No buildings were sold, and a new building costing $262,000 was purchased during the year. How much was depreciation expense? Expense Incurred @
prepare adjusting entries for the following transactionsathe beginning balance of the supplies account was 245. during
What do you think is George Bush's desired conclusion? Make sure to include the computations of income. How can the discrepancies in parts (a) and (b), and the motivation difficulties in part (c) be diminished?
last month when harrison creations inc. sold 40000 units total sales were 300000 total variable expenses were 240000
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Suppose Crane and Egret are two very small colleges, the results of the beginning Business Mathematics course at each of the two schools are given in the table. Count Pass Fail Expect Crane 8 14 7.6 14.4 Egret 1 3 1.4 2.6
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