Knowledge King, Inc., reported the following items, listed in no particular order at December 31, 2010 (in
Question:
Knowledge King, Inc., reported the following items, listed in no particular order at December 31, 2010 (in thousands):
Income tax of 30% applies to all items.
Prepare Knowledge Kings income statement for the year ended December 31, 2010. Omit earnings pershare.
Transcribed Image Text:
Other gains (losses) Net sales revenue..184,000 Loss on discontinued 4,000 72,000 60,000 16,000 $(21,000) Extraordinary gain Cost of goods sold.. Operating expenses Accounts receivable. … … operations... 17,000
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Evaluating manufacturing processes by designing and conducting research programs; applying knowledge of product design, fabrication, assembly, tooling, and materials; conferring with equipment vendors; soliciting observations from operators. Developing manufacturing processes by studying product requirements; researching, designing, modifying, and testing manufacturing methods and equipment; conferring with equipment vendors. Keeping equipment operational by coordinating maintenance and repair services; following manufacturer's instructions and established procedures; requesting special service.
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Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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