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counts Receivable entory rchases eight-In rchases Discount archases Returns archase Allowances es Revenue erest Revenue 32,000 20,000 480,000 5,000 $4,000 3,000 1,000 1,850,000 1,000

counts Receivable entory rchases eight-In rchases Discount archases Returns archase Allowances es Revenue erest Revenue 32,000 20,000 480,000 5,000 $4,000 3,000 1,000 1,850,000 1,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jaded Corporation has the following account balances for the year-ended December 31, 2024. K In addition, the 12/31/23 balances for Accounts Receivable and Inventory are $45,000 and $95,000, respectively. dr Accounts Receivable Inventory Purchases Freight-In Purchases Discount Purchases Returns Purchase Allowances Sales Revenue Interest Revenue Sales Returns & Allowances Sales Discounts Selling Expenses General & Administrative Exp Other Operating Expenses 32,000 20,000 480,000 5,000 OA. $1,146,000 OB. $1,167,000 OC. $1,156,000 O D. $1,176,000 $8,000 50,000 10,000 15,000 30,000 Freight-Out 9,000 Interest Expense 2,000 Loss on Sale of Truck 5,000 What is the operating income for the period? cr $4,000 3,000 1,000 1,850,000 1,000
Transcribed Image Text:Jaded Corporation has the following account balances for the year-ended December 31, 2024. K In addition, the 12/31/23 balances for Accounts Receivable and Inventory are $45,000 and $95,000, respectively. dr Accounts Receivable Inventory Purchases Freight-In Purchases Discount Purchases Returns Purchase Allowances Sales Revenue Interest Revenue Sales Returns & Allowances Sales Discounts Selling Expenses General & Administrative Exp Other Operating Expenses 32,000 20,000 480,000 5,000 OA. $1,146,000 OB. $1,167,000 OC. $1,156,000 O D. $1,176,000 $8,000 50,000 10,000 15,000 30,000 Freight-Out 9,000 Interest Expense 2,000 Loss on Sale of Truck 5,000 What is the operating income for the period? cr $4,000 3,000 1,000 1,850,000 1,000
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