Refer to the data for Pavolik Company in Exercise 156 Required Use the direct method to convert the companys income statement to a cash basis Sales $700 Cost of goods sold 400 Gross margin Selling and administrative expenses 300 184 Net operating income Nonoperating items Gain on sale of investment...

Sales 700 Adjustments to a cash basis Increase in accounts ...

Refer to the data for Pavolik Company in Exercise 156. Required: Use the direct method to convert

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Refer to the data for Pavolik Company in Exercise 15—6.

Sales ... $700 Cost of goods sold.. 400 Gross margin ..... Selling and administrative expenses 300 184 Net operating inc

Required:

Use the direct method to convert the company’s income statement to a cash basis.

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Managerial Accounting

ISBN: 978-0697789938

13th Edition

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

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Question Posted: Jun 30, 2011 01:20 AM

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Refer to the data for Pavolik Company in Exercise 156. Required: Use the direct method to convert

Question:

Sales ... $700 Cost of goods sold.. 400 Gross margin ..... Selling and administrative expenses 300 184 Net operating income.. Nonoperating items: Gain on sale of investments.. Loss on sale of land.... Income before taxes... Income taxes.. 116 $10 4 120 36 Net income.. $ 84

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