Can you help me figure out how to compute starting at question 2/ Selected account balances from the adjusted trial balance...

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Can you help me figure out how to compute starting at question 2/

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year end December 31, 2013, follow.

 

  DebitCredit
 a.Interest revenue     $15,700 
 b.Depreciation expense—Equipment. $35,700     
 c.Loss on sale of equipment  27,550     
 d.Accounts payable      45,700 
 e.Other operating expenses  108,100     
 f.Accumulated depreciation—Equipment      73,300 
 g.Gain from settlement of lawsuit      45,700 
 h.Accumulated depreciation—Buildings      177,900 
 i.Loss from operating a discontinued segment (pretax)  19,950     
 j.Gain on insurance recovery of tornado damage (pretax and extraordinary)      30,820 
 k.Net sales      1,015,500 
 l.Depreciation expense—Buildings  53,700     
 m.Correction of overstatement of prior year’s sales (pretax)  17,700     
 n.Gain on sale of discontinued segment’s assets (pretax)      42,500 
 o.Loss from settlement of lawsuit  25,450     
 p.Income taxes expense            ?     
 q.Cost of goods sold  499,500     

Section BreakProblem 13-6AA Income statement computations and format LO A2 

 

 1.
 

Problem 13-6AA Part 1

WorksheetDifficulty: Hard 
Problem 13-6AA Part 4Learning Objective: 13-A2 Appendix 13A—Explain the form and assess the content of a complete income statement. 

 

Problem 13-6AA Part 5

WorksheetDifficulty: Hard 
Problem 13-6AA Part 5Learning Objective: 13-A2 Appendix 13A—Explain the form and assess the content of a complete income statement. 

 
    • Posted: 6 years ago
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    • Budget: $5