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


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.

 

    Debit Credit
 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 Break Problem 13-6AA Income statement computations and format LO A2  

 

 1.
 

Problem 13-6AA Part 1

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

 

Problem 13-6AA Part 5

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

 

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


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.

 

    Debit Credit
 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 Break Problem 13-6AA Income statement computations and format LO A2  

 

 1.
 

Problem 13-6AA Part 1

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

 

Problem 13-6AA Part 5

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

 

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