FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Hansen Corporation. a C Corporation (mot a manufacturer) reports the following items in income and expenses for 2021 Gross Revenue $900,000 Dividend Received from 30% owned Corp 200,000 LTCG 30,000 STCL 12000 City of Lee's Summit Bond Interest 10000 COGS 375000 Administrative Expenses 325000 Charitable Contribution 60,000 Compute Hansen's C Corp Taxable income?arrow_forwardNow, assume that the state of the limit order book is as follows just before the call of CBA's opening call auction: Buy Quantity Price $8.08 $8.01 $7.99 $7.96 $7.91 $7.87 $7.84 $7.82 0 0 0 a. $7.96 O b. $8.01 O c. Other O d. $7.99 e. $7.91 1800 800 1100 1900 800 Sell Quantity 1600 1800 1200 0 0 0 0 If no more orders are entered, the call price would be:arrow_forwardBased on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period: Cash Note Receivable P 67,075 70,000 176,500 Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Furniture & Fixtures 5,400 60,900 34,100 Accumulated Depreciation - Furn. & Fixt Office Equipment Accumulated Depreciation - Office Eapmt Note Payable Accounts Payable Leonard Capital Leonard Drawing Sales Sales Returns 3,100 15,500 1,500 20,000 94,750 265,000 9,500 572,875 11,000 6,400 390,750 5,415 Sales Discount Purchases Freight in Purchase Returns Pychase discount Salaries Expense Rent Expense Insurance expense Office supplies expense Rental Income 3,630 6,885 99.530 24,000 5,250 2,200 5,000 Additional information: Merchandise Inventory, December 31, P 76,000arrow_forward
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