Question 1 of 7 View Policies -/6 E III Current Attempt in Progress Cullumber Ltd. is...
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Question 1 of 7 View Policies -/6 E III Current Attempt in Progress Cullumber Ltd. is a Canadian private company following ASPE. Following are the partial trial balances for Cullumber as at December 31: 2024 2023 Accounts receivable $55,000 $35,000 Salaries and wages payable 15,600 26,000 Income taxes payable 13,200 18,400 Prepaid insurance 8,200 3,900 Accumulated depreciation 90,600 77,800 Interest payable 2,400 8,900 1 During 2024, Cullumber collected $386,000 in cash from its customers. Cullumber also paid out cash of $152,000 for salaries and wages, $68,000 for income taxes, $41,000 for insurance, and $25,400 for interest. Prepare a single-step income statement for Cullumber Ltd. for the year ended December 31, 2024. Cullumber Ltd. Income Statement For the Year Ended December 31, 2024 Question 1 of 7 View Policies -/6 E III Current Attempt in Progress Cullumber Ltd. is a Canadian private company following ASPE. Following are the partial trial balances for Cullumber as at December 31: 2024 2023 Accounts receivable $55,000 $35,000 Salaries and wages payable 15,600 26,000 Income taxes payable 13,200 18,400 Prepaid insurance 8,200 3,900 Accumulated depreciation 90,600 77,800 Interest payable 2,400 8,900 1 During 2024, Cullumber collected $386,000 in cash from its customers. Cullumber also paid out cash of $152,000 for salaries and wages, $68,000 for income taxes, $41,000 for insurance, and $25,400 for interest. Prepare a single-step income statement for Cullumber Ltd. for the year ended December 31, 2024. Cullumber Ltd. Income Statement For the Year Ended December 31, 2024 Question 1 of 7 View Policies -/6 E III Current Attempt in Progress Cullumber Ltd. is a Canadian private company following ASPE. Following are the partial trial balances for Cullumber as at December 31: 2024 2023 Accounts receivable $55,000 $35,000 Salaries and wages payable 15,600 26,000 Income taxes payable 13,200 18,400 Prepaid insurance 8,200 3,900 Accumulated depreciation 90,600 77,800 Interest payable 2,400 8,900 1 During 2024, Cullumber collected $386,000 in cash from its customers. Cullumber also paid out cash of $152,000 for salaries and wages, $68,000 for income taxes, $41,000 for insurance, and $25,400 for interest. Prepare a single-step income statement for Cullumber Ltd. for the year ended December 31, 2024. Cullumber Ltd. Income Statement For the Year Ended December 31, 2024
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