Question
Ridley, Inc., a calendar year S corporation, incurred the following items: Sales $130,000 Short-term capital gain $30,000 Cost of Goods Sold ($42,000) Municipal bond interest
Ridley, Inc., a calendar year S corporation, incurred the following items:
Sales $130,000 Short-term capital gain $30,000 Cost of Goods Sold ($42,000) Municipal bond interest income $7,000 Administrative expenses ($15,000) Depreciation expense ($17,000) Charitable contributions ($14,000)
Calculate Ridley's non-separately computed income.
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Introduction To Accounting And Finance
Authors: Geoff Black
2nd Edition
0273711628, 978-0273711629
