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FOR THE YEAR ENDING DECEMBER 31, 2014 Revenues Net sales (100,000/80/0 - 17,000) Expenses Cost of goods sold Selling expenses (100,000 * 4) Administrative
FOR THE YEAR ENDING DECEMBER 31, 2014 Revenues Net sales (100,000/80/0 - 17,000) Expenses Cost of goods sold Selling expenses (100,000 * 4) Administrative expenses (500,000 * 20%) Interest expense Total expenses Income before income tax $500,000 400,000 100,000 20,000 $1.020.ooo 213,000
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
1118334329, 978-1118334324
