FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
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MHD LLC a trading company dealing in fast moving consumer goods. Their trading results for the year ending 31st Dec, 2018 shows profit of RO45750.
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Bonobo's activities for the year ended December 31, 2018 included the following:
• Income tax expense for the year was $30,000.
• Sales for the year were $650,000.
• Accounts payable decreased $10,000 in 2018.
• Selling and administration expenses for the year totaled $200,000.
• Accounts receivable increased $20,000 in 2018.
• The Company's cost of goods sold in 2018 was $325,000.
• The Company's inventory decreased $15,000 during the year.
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O $110,000
$630,000
$320,000
$670,000
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a. 60,000b. 120,000c. 133,333d. 400,000e. Answer not given
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