At the end of December 31, 2012, Centennial Company's accounts are as follows. Purchases $175,000 Salaries 80,000 Advertising 3,000 Travel 2,000 Revenue 350,000 Finance costs 10,000 Freight-in 2000 Income tax expense 13,000 Sales commission 2,000 Depreciation 38,000 Questions: 1) Cost of sales is 2) Profit before taxes is 3) Total expenses are

At the end of December 31, 2012, Centennial Company's accounts are as follows. Purchases $175,000 Salaries 80,000 Advertising 3,000 Travel 2,000 Revenue 350,000 Finance costs 10,000 Freight-in 2000 Income tax expense 13,000 Sales commission 2,000 Depreciation 38,000 Questions: 1) Cost of sales is 2) Profit before taxes is 3) Total expenses are

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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