Question
Golden Corporation, located at 123 Main St., Houston, TX 77079 has the following transactions in its 2018 financial statements: Item Amount Sales 2,700,000 Cost of
Golden Corporation, located at 123 Main St., Houston, TX 77079 has the following transactions in its 2018 financial statements:
Item
Amount
Sales
2,700,000
Cost of Goods Sold
1,980,000
Capital Gain Net Income
5,000
Net Gain, Form 4797
2,000
Depreciation Per Books
16,500
Depreciation, tax
8,000
Penalties
500
Legal and Professional
50,000
Telephone Expense
6,500
Officer's Salary
200,000
Employee Salaries
210,000
Rent Expense
120,000
Advertising
40,000
Employee Benefit Programs
15,000
Charitable Contributions
2,000
Interest
1,000
Taxes and Licenses
31,726
Repairs
12,000
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
