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For each of the following transactions, indicate the proper classification on the multi-step income statement for a manufacturing firm: (a) Paid income taxes of $27,000

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For each of the following transactions, indicate the proper classification on the multi-step income statement for a manufacturing firm: (a) Paid income taxes of $27,000 (b) Sold equipment at a loss of $6,000. Administrative or General Expenses (c) Paid $175 for the telephone bill. (d) Received $1,500 in dividends from a long-term investment. Income Tax Expense Cost of Goods Sold Discontinued Operations (el Paid $1,800 in interest on a bank loan. (0) Received $150 in interest from investment in bonds Other Expenses and Losses Other Revenues and Gains (8) Sold inventory for $15,000. (h) Purchased inventory for $8,000.(periodic) Paid salaries of $28,000. Sold a major segment of the business for $250,000. For each of the following transactions, indicate the proper classification on the multi-step income statement for a manufacturing firm: (a) Paid income taxes of $27,000. (b) Sold equipment at a loss of $6,000. (c) Paid $175 for the telephone bill. (d) Received $1,500 in dividends from a long-term investment. (e) Paid $1,800 in interest on a bank loan. (f) Received $150 in interest from investment in bonds. (8) Sold inventory for $15,000. (h) Purchased inventory for $8,000.(periodic) (1) Paid salaries of $28,000. (1) Sold a major segment of the business for $250,000, Sunetor Later

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