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Get Help Now!Can you help me figure out how to compute starting at question 2/
Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year end December 31, 2013, follow.
| Debit | Credit | ||||||||
| a. | Interest revenue | $ | 15,700 | ||||||
| b. | Depreciation expense—Equipment. | $ | 35,700 | ||||||
| c. | Loss on sale of equipment | 27,550 | |||||||
| d. | Accounts payable | 45,700 | |||||||
| e. | Other operating expenses | 108,100 | |||||||
| f. | Accumulated depreciation—Equipment | 73,300 | |||||||
| g. | Gain from settlement of lawsuit | 45,700 | |||||||
| h. | Accumulated depreciation—Buildings | 177,900 | |||||||
| i. | Loss from operating a discontinued segment (pretax) | 19,950 | |||||||
| j. | Gain on insurance recovery of tornado damage (pretax and extraordinary) | 30,820 | |||||||
| k. | Net sales | 1,015,500 | |||||||
| l. | Depreciation expense—Buildings | 53,700 | |||||||
| m. | Correction of overstatement of prior year’s sales (pretax) | 17,700 | |||||||
| n. | Gain on sale of discontinued segment’s assets (pretax) | 42,500 | |||||||
| o. | Loss from settlement of lawsuit | 25,450 | |||||||
| p. | Income taxes expense | ? | |||||||
| q. | Cost of goods sold | 499,500 | |||||||
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| Section Break | Problem 13-6AA Income statement computations and format LO A2 |
Problem 13-6AA Part 1
| Worksheet | Difficulty: Hard | |
| Problem 13-6AA Part 4 | Learning Objective: 13-A2 Appendix 13A—Explain the form and assess the content of a complete income statement. |
Problem 13-6AA Part 5
| Worksheet | Difficulty: Hard | |
| Problem 13-6AA Part 5 | Learning Objective: 13-A2 Appendix 13A—Explain the form and assess the content of a complete income statement. |
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