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Ne In Net Acc Francis Co 720,000 a and owne

Ne In Net Acc Francis Co 720,000 a and owne

FINANCIAL ACCOUNTING
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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gross profit ratio
Cunchc Francis Company Ignatius Company 820,000.00 540,000.00 8,000.00 65,000.00 110,000.00 45,000.00 600,000.00 425,000.00 Net Sales Revenue Cost of Sales Interest Expense Net Income after tax 900,000.00 580,000.00 10,000.00 82,000.00 150,000.00 65,000.00 780,000.00 530,000.00 Accounts Receivable Inventory Total Assets Owner's Equity Francis Company's total asets and owner's equity as of January 1. 2018 amounted to 720,000 and 470,000 respectively. On the other hand Ignatius Company's total assets and owner's equity as of being of 2018 totaled 560,000 and 385,000, respectively.
Transcribed Image Text:Cunchc Francis Company Ignatius Company 820,000.00 540,000.00 8,000.00 65,000.00 110,000.00 45,000.00 600,000.00 425,000.00 Net Sales Revenue Cost of Sales Interest Expense Net Income after tax 900,000.00 580,000.00 10,000.00 82,000.00 150,000.00 65,000.00 780,000.00 530,000.00 Accounts Receivable Inventory Total Assets Owner's Equity Francis Company's total asets and owner's equity as of January 1. 2018 amounted to 720,000 and 470,000 respectively. On the other hand Ignatius Company's total assets and owner's equity as of being of 2018 totaled 560,000 and 385,000, respectively.
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