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LAS Corporation shows the following accounting record for sales commissions 15,000 beginning merchandise inventory 16, 000 ending merchandise inventroy 9, 000 sales 185, 000 advertising 10, 000 purchase of merchandise 85, 000 employees salaries 20, 000 other operating expenses 30,000 1. Prepare income statement SAC corporation shows the following accounting records land 50, 000 accounts payable 2, 200 cash 10, 000 material inventory 474 accumulated depreciation (60 000) accounts receivable 9, 500 finsihed goods inventory 3, 280 common stock, no par 70, 000 retained earnings 37, 054 income tax payable 4, 000 building and equipments 100, 000 2. prepare a balance sheet

LAS Corporation shows the following accounting record for sales commissions 15,000 beginning merchandise inventory 16, 000 ending merchandise inventroy 9, 000 sales 185, 000 advertising 10, 000 purchase of merchandise 85, 000 employees salaries 20, 000 other operating expenses 30,000 1. Prepare income statement SAC corporation shows the following accounting records land 50, 000 accounts payable 2, 200 cash 10, 000 material inventory 474 accumulated depreciation (60 000) accounts receivable 9, 500 finsihed goods inventory 3, 280 common stock, no par 70, 000 retained earnings 37, 054 income tax payable 4, 000 building and equipments 100, 000 2. prepare a balance sheet

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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LAS Corporation shows the following accounting record for sales commissions 15,000 beginning merchandise inventory 16, 000 ending merchandise inventroy 9, 000 sales 185, 000 advertising 10, 000 purchase of merchandise 85, 000 employees salaries 20, 000 other operating expenses 30,000 1. Prepare income statement SAC corporation shows the following accounting records land 50, 000 accounts payable 2, 200 cash 10, 000 material inventory 474 accumulated depreciation (60 000) accounts receivable 9, 500 finsihed goods inventory 3, 280 common stock, no par 70, 000 retained earnings 37, 054 income tax payable 4, 000 building and equipments 100, 000 2. prepare a balance sheet
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