Depreciation - office Depreciation - store Dividend Revenue Freight in Freight out Income from Associates 525,000.00 245,000.00 350,000.00 87,500.00 280,000.00 393,750.00 1,120,000.00 218,750.00 2,450,000.00 1,750,000.00 148,750.00 157,500.00 96,250.00 131,250.00 875,000.00 245,000.00 840,000.00 9,100,000.00 525,000.00 220,500.00 13,650,000.00 420,000.00 105,000.00 1,120,000.00 Income tax expense Interest Expense Inventory, December 31 Inventory, January 1 Loss from Earthquake Loss on expropriation ofland Loss on sale of equipment Loss on sale of financial assets through profit or loss Officers' Salaries Purchase Discounts Purchase Returns Purchases Rent Revenue Revaluation surplus Sales Sales Discounts Sales Returms Salesmen's commissions

Depreciation - office Depreciation - store Dividend Revenue Freight in Freight out Income from Associates 525,000.00 245,000.00 350,000.00 87,500.00 280,000.00 393,750.00 1,120,000.00 218,750.00 2,450,000.00 1,750,000.00 148,750.00 157,500.00 96,250.00 131,250.00 875,000.00 245,000.00 840,000.00 9,100,000.00 525,000.00 220,500.00 13,650,000.00 420,000.00 105,000.00 1,120,000.00 Income tax expense Interest Expense Inventory, December 31 Inventory, January 1 Loss from Earthquake Loss on expropriation ofland Loss on sale of equipment Loss on sale of financial assets through profit or loss Officers' Salaries Purchase Discounts Purchase Returns Purchases Rent Revenue Revaluation surplus Sales Sales Discounts Sales Returms Salesmen's commissions

Name: The following selected account balances were taken from the records of
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Description: The following selected account balances were taken from the records of XYZ Company for the year 2021: Required: Prepare a statement of comprehensive income in one statement format for XYZ Company for the year ended December 31, 2021. Use the function

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 15PC

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What to put in the income statement based on this list? InventoryBuildings & ImprovementsAccumulated Depreciation - Buildings & ImprovementsFurniture & FixturesAccumulated Depreciation - Furniture & FixturesOffice EquipmentAccumulated Depreciation - Office EquipmentAccounts PayableLoans PayableAccrued LiabilitiesSalaries PayableEmployee Benefits PayablePaid-Up Share Capital - CommonAdditional Paid in CapitalRetained EarningsSalesFees and Surcharges & FinesOther Income & GainsMiscellaneous IncomeCost of SalesInterest ExpenseOffice Supplies ExpenseTravel and TransportationTaxes and LicensesProfessional FeesRent ExpenseMeeting and ConferencesBad Debts ExpenseDepreciation Expense - B&IDepreciation Expense - FFDepreciation Expense - OEEmployees Benefit ExpenseSalaries & WagesCommunicationMiscellaneous ExpensesIncome Summary
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Assume an income statement with the following classifications: RevenuesCost of goods soldDistribution expensesGeneral & administrative expensesOther revenues and expensesIncome tax on income from continuing operationsGain from disposal of discontinued operationsIncome tax on gain from discontinued operationsNone of the above Indicate by letter how each of the following should be classified: Advertising expense Amortization of a patent held as an investment Cash dividend received on short-term investment Depreciation on plant that manufactures good for sale (prior to sale of the goods) Freight on sales Income tax effect of loss on sale of plant Income tax on gain on sale of short-term investment in securities Interest expense Interest revenue Loss on sale of patent Dividend revenue from investment Salary of company president Sales Sales returns Services sold
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