Question
For Each of the following items calculate the amount of revenue or expenses that should be recognized on the income statement for Pelky Co.: A.
For Each of the following items calculate the amount of revenue or expenses that should be recognized on the income statement for Pelky Co.:
A. Cash collected from customers during the fiscal yr amounted to 147,000, and accounts receivable increased by 31,000. How much sales were on account during the year
B. Cash payments for income rates taxes during the yr 85,000, income payable increased by 13,000. How much was income tax expense during the year
C. Cash paid to suppliers during the yr amounted to 168000 accounts payable decreased by 26,700 and inventories decreased by 14,000. How much was the cost of goods sold
D. The net book value of the building increased by 275,000. No buildings were sold and a new building costing 430,000 was purchased during the yr. How much was depreciation expense.
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