Memphis Co. reported the following information for 2021: Sales revenue: $780,000 Interest revenue on note receivable: $4,500 Cost of goods sold: $525,000 Operating expenses: $82,500 Gain on sale of equipment: $105,000 On a multiple-step income statement, Memphis would report other income of: Question 14 options: $109,500 $277,500 $4,500 $105,000
Memphis Co. reported the following information for 2021:
Sales revenue: $780,000
Interest revenue on note receivable: $4,500
Cost of goods sold: $525,000
Operating expenses: $82,500
Gain on sale of equipment: $105,000
On a multiple-step income statement, Memphis would report other income of:
Question 14 options:
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$109,500 |
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$277,500 |
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$4,500 |
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$105,000 |
Super Ltd. reported the following select account balances in its
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$ 150,000 |
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Accounts payable |
65,000 |
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125,000 |
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Cash |
30,000 |
|
Equipment |
250,000 |
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Income tax payable |
5,000 |
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Inventory |
95,000 |
|
Mortgage payable (in 5 years) |
175,000 |
|
Common shares |
200,000 |
What is Super Ltd.'s
Question 15 options:
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3.93 |
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1.63 |
|
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4.23 |
|
|
1.46 |
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