BB Company is merchandising business that sells goods in different parts of the country. The following summarized the transaction of BB during the year: Sales P540,000 Rent income 30,000 Interest income 10,000 Gain on sale of machinery 12,000 Cost of sales 200,000 Rent expense 100,000 Insurance expense 30,000 Depreciation expense 40,000 Loss on sale of equipment 15,000 Foreign exchange translation loss 20,000 Revaluation surplus 40,000 How much is the total income?

BB Company is merchandising business that sells goods in different parts of the country. The following summarized the transaction of BB during the year: Sales P540,000 Rent income 30,000 Interest income 10,000 Gain on sale of machinery 12,000 Cost of sales 200,000 Rent expense 100,000 Insurance expense 30,000 Depreciation expense 40,000 Loss on sale of equipment 15,000 Foreign exchange translation loss 20,000 Revaluation surplus 40,000 How much is the total income?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
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Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 8,000 units during the year. The company has provided the following information: Sales Revenue Purchases (excluding Freight In) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory What is the operating income for the year? (Round your answer to the nearest whole dollar.) OA. $320,000 OB. $247,000 OC. $178,000 OD. $498,000 $567,000 305,000 69,000 15,000 43,000 43,000 C
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bartleby, a Learneo, Inc. business

Sales	P540,000
Rent income	30,000
Interest income	10,000
Gain on sale of machinery	12,000
Cost of sales	200,000
Rent expense	100,000
Insurance expense	30,000
Depreciation expense	40,000
Loss on sale of equipment	15,000
Foreign exchange translation loss	20,000
Revaluation surplus	40,000