FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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
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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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