ACCT 550 Week 2 Homework Assignment
ACCT 550 Week 2 Homework Assignment
ACCT 550 Week 2 Homework Assignment
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<strong>ACCT</strong> <strong>550</strong> <strong>Week</strong> 2 <strong>Homework</strong> <strong>Assignment</strong><br />
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<strong>ACCT</strong> <strong>550</strong> <strong>Week</strong> 2 <strong>Homework</strong> <strong>Assignment</strong><br />
Chapter 4: E4-4<br />
1. A) Webster Company<br />
Multiple-Step Income statement<br />
For the Year Ended December 31, 2012<br />
Sales $96,500<br />
Cost of Goods Sold 63,570<br />
Gross Profit on Sales 32,930<br />
1. B) Webster Company<br />
Single-Step Income Statement<br />
For the Year Ended December 31, 2012<br />
Revenue<br />
Sales 96,500<br />
Rent Revenue<br />
Chapter 4: E4-12<br />
Net Income:<br />
Income from continuing operations
Before income tax 21,650,000<br />
Income tax (21,650,000 x 35%) 7,577,500<br />
Income from continuing operations 14,072,500<br />
Chapter 4: P4-1<br />
Dickinson Company<br />
Income Statement<br />
For the Year Ended December 31, 2012
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