1. In Bangs Company's 2020 Single-Step Income Statement, the section titles "Revenues" consisted of the following: Net Sales Results from Discontinued operations at Net amount: Loss from discontinued components Alpha including loss On disposal of P1,200 Interest Revenue Gain on sale of equipment Cumulative Change in 2018 and 2019 Income due To change in depreciation method (net of tax effect) Total Revenue Compute for revenue section of the 2020 Income Statement. 187,000 (16,400) 10,200 4,700 1,500 191,000

1. In Bangs Company's 2020 Single-Step Income Statement, the section titles "Revenues" consisted of the following: Net Sales Results from Discontinued operations at Net amount: Loss from discontinued components Alpha including loss On disposal of P1,200 Interest Revenue Gain on sale of equipment Cumulative Change in 2018 and 2019 Income due To change in depreciation method (net of tax effect) Total Revenue Compute for revenue section of the 2020 Income Statement. 187,000 (16,400) 10,200 4,700 1,500 191,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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