The following list of items was extracted from the December 31, 2014, trial balance of Fytokem Products
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The following list of items was extracted from the December 31, 2014, trial balance of Fytokem Products Corp. Using the information contained in this listing; prepare the company’s multiple-step income statement for 2014. You need not complete the earnings per sharecalculations.
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Debit Credit ...S 73,370 102,498 Income tax expense (continuing operations) Loss from operating Division C (net of $11,220 tax benefit)26,400 Sales Total effect on prior years' income of change from declining- $770, 264 35,640 102,080 Gain on provincial condemnation of land owned by Fytokem Depreciation expense. Gain on sale of Division C (net of $21,670 tax) Cost of goods sold.. 68,310 72,600
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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