ZEUS COMPANY COMPARATIVE INCOME STATEMENT For the years 2019 and 2018 2019 2018 Rate of Inc(Dec) (0.50%) Sales P500,000.00 Cost of Goods Sold 50% ? P301,500,00 40% Gross Profit Operating Expenses: Salaries P95,000.00 P97,000.00 Rent 25,000.00 25,000.00 Marketing Utilities Other Expenses Total Expenses 20,000.00 5% 1% 5,000.00 7,500.00 10,000.00 Net Income

ZEUS COMPANY COMPARATIVE INCOME STATEMENT For the years 2019 and 2018 2019 2018 Rate of Inc(Dec) (0.50%) Sales P500,000.00 Cost of Goods Sold 50% ? P301,500,00 40% Gross Profit Operating Expenses: Salaries P95,000.00 P97,000.00 Rent 25,000.00 25,000.00 Marketing Utilities Other Expenses Total Expenses 20,000.00 5% 1% 5,000.00 7,500.00 10,000.00 Net Income

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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Jamison Corp.'s balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31, 2021 2020 AssetsCash $ 440,000 $ 200,000Short-term investments 600,000 —Accounts receivable (net) 1,020,000 1,020,000Inventory 1,380,000 1,200,000Long-term investments 400,000 600,000Plant assets 3,400,000 2,000,000Accumulated depreciation (900,000)…
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