Chapter 4-Income statement. Presented below is information (in thousands) related to Chen Company. Retained earnings, December...
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Chapter 4-Income statement. Presented below is information (in thousands) related to Chen Company. Retained earnings, December 31, 2014 Sales revenue Selling and administrative expenses Loss on disposal of component (pre-tax) Cash dividends declared on ordinary shares ✓ Cost of goods sold Gain resulting from computation error on depreciation charge in 2013 (pre-tax) Rent revenue Impairment loss Interest expense ¥ 650,000 1,400,000 240,000 260,000 10,000 33,600 830,000 520,000 120,000 90,000 Instructions Prepare in good form an income statement for the year 2015. Assume a 30% tax rate and that there were 70,000 ordinary shares outstanding during the year. Chapter 4-Income statement. Presented below is information (in thousands) related to Chen Company. Retained earnings, December 31, 2014 Sales revenue Selling and administrative expenses Loss on disposal of component (pre-tax) Cash dividends declared on ordinary shares ✓ Cost of goods sold Gain resulting from computation error on depreciation charge in 2013 (pre-tax) Rent revenue Impairment loss Interest expense ¥ 650,000 1,400,000 240,000 260,000 10,000 33,600 830,000 520,000 120,000 90,000 Instructions Prepare in good form an income statement for the year 2015. Assume a 30% tax rate and that there were 70,000 ordinary shares outstanding during the year.
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INCOME STATEMENT Chen Company Particulars Sales Cost of goods sold Gross profit Selling and admi... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
Posted Date:
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