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im having trouble figuiring out what should go in the current income taxes payble slot so i can calculate my net income and earnings per
im having trouble figuiring out what should go in the current "income taxes payble" slot so i can calculate my net income and earnings per share
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $610 were declared at the end of the year, and 560 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,240 in cash (for a total at the end of the year of 830 shares). These effects are included below. Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,540 Accounts receivable 2,350 Interest receivable 210 Prepaid insurance 1,670 Long-term notes receivable 2,820 Equipment 15,600 Accumulated depreciation $ 2,810 Accounts payable 2,290 Dividenda payable Acerued expenses payable 3,840 Income taxes payable 2,590 Unearned rent revenue 480 Connon Stock (830 shares) Additional paid-in capital 3,507 Retained earnings 4,230 Sales revenue 36,750 Interest revenue 110 Rent revenue 660 Wages expense 18,200 Depreciation expense 1,790 Utilities expense 340 Insurance expenso 770 Rent expense 9,900 Income tax expense 2.770 Total 3:57.960 552.960 610 BOON Print erences Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $610 were declared at the end of the year, and 560 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,240 in cash (for a total at the end of the year of 830 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the current Year Debit Credit Cash $ 1,540 Accounts receivable 2,350 Interest receivable 210 Prepaid insurance 1,670 Long-term notes receivable 2,820 Equipment 15,600 Necumulated depreciation $ 2.810 Accounts payable 2,290 Dividende payable 610 Neerued expenses payable 3,040 Theone taxes payable 2,590 Unearned rent revenue 480 Common stock 830 shares) Additional paid.in capital 3,507 Retained earnings 4,230 Sales revenue 36,750 Interest revenue 110 Rent revenue 660 Wages expense 10.200 Depreciation expense 1.790 Utilities expense 340 Insurance expense 770 Rent expense 9,900 Income tax expense 2,270 Total 5572605.57.960 03 3 MCI OLLUT $ 0.55 points 36,750 36.750 For the current year Operating revenues: Sales revenue Total operating revenues Operating expenses Wages expense Depreciation expense Ulities expense Insurance expense Rent expense lolololo 18,200 1,790 340 770 9.900 31,000 5,750 Total operating expenses Operating income Other items: Interest revenue Rent revenue Income taxes payable Pretax income 110 660 2.770 9,290 EX > Net income $ 6,520 20 IC C Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $610 were declared at the end of the year, and 560 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,240 in cash (for a total at the end of the year of 830 shares). These effects are included below. Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,540 Accounts receivable 2,350 Interest receivable 210 Prepaid insurance 1,670 Long-term notes receivable 2,820 Equipment 15,600 Accumulated depreciation $ 2,810 Accounts payable 2,290 Dividenda payable Acerued expenses payable 3,840 Income taxes payable 2,590 Unearned rent revenue 480 Connon Stock (830 shares) Additional paid-in capital 3,507 Retained earnings 4,230 Sales revenue 36,750 Interest revenue 110 Rent revenue 660 Wages expense 18,200 Depreciation expense 1,790 Utilities expense 340 Insurance expenso 770 Rent expense 9,900 Income tax expense 2.770 Total 3:57.960 552.960 610 BOON Print erences Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $610 were declared at the end of the year, and 560 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,240 in cash (for a total at the end of the year of 830 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the current Year Debit Credit Cash $ 1,540 Accounts receivable 2,350 Interest receivable 210 Prepaid insurance 1,670 Long-term notes receivable 2,820 Equipment 15,600 Necumulated depreciation $ 2.810 Accounts payable 2,290 Dividende payable 610 Neerued expenses payable 3,040 Theone taxes payable 2,590 Unearned rent revenue 480 Common stock 830 shares) Additional paid.in capital 3,507 Retained earnings 4,230 Sales revenue 36,750 Interest revenue 110 Rent revenue 660 Wages expense 10.200 Depreciation expense 1.790 Utilities expense 340 Insurance expense 770 Rent expense 9,900 Income tax expense 2,270 Total 5572605.57.960 03 3 MCI OLLUT $ 0.55 points 36,750 36.750 For the current year Operating revenues: Sales revenue Total operating revenues Operating expenses Wages expense Depreciation expense Ulities expense Insurance expense Rent expense lolololo 18,200 1,790 340 770 9.900 31,000 5,750 Total operating expenses Operating income Other items: Interest revenue Rent revenue Income taxes payable Pretax income 110 660 2.770 9,290 EX > Net income $ 6,520 20 IC C Step by Step Solution
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