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please answer all questions and write it with good handwriting, this is third time that I post the questions. Problem 13-5A Tamarisk Limited is a
please answer all questions and write it with good handwriting, this is third time that I post the questions.
Problem 13-5A Tamarisk Limited is a private corporation reporting under ASPE. At December 31, 2017, its general ledger contained the following summary data: Cost of goods sold Interest expense Interest revenue Operating expenses Retained earnings, January 1 Sales $1,217,000 37,800 16,700 208,000 558,700 1,649,000 Additional information: 1. In 2017, common share dividends of $24,100 were declared on June 30 and December 31. The dividends were paid on July 8, 2017, and January 8, 2018, respectively. 2. The company's income tax rate is 20%. Record the dividend transactions in 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit v Determine income tax expense. Income tax expense $ 9:55 PM Prepare a multiple-step income statement for 2017. TAMARISK LIMITED Income Statement $ tA A $ Prepare a statement of retained earnings for 2017. (List items that increase retained earnings first.) TAMARISK LIMITED Statement of Retained Earnings > $Step by Step Solution
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