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The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Locomotive Division Corporate Total Cost of goods sold Direct operating expenses Sales Interest expense Rails. Division $ 47,200 27,200 108,000 $30,720 20,040 78,000 $ 2,040

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Locomotive Division Corporate Total Cost of goods sold Direct operating expenses Sales Interest expense Rails. Division $ 47,200 27,200 108,000 $30,720 20,040 78,000 $ 2,040

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Locomotive Division Cost of goods sold Direct operating expenses Sales Interest expense General overhead Income tax Rails Division $ 47,200 27,200 108,000 Ob. $47,280 O c. $14,790 O d. $27,240 $30,720 20,040 78,000 The income from operations for the Locomotive Division is O a. $57,960 Corporate Total $ 2,040 18,160 4,700
Transcribed Image Text:The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Locomotive Division Cost of goods sold Direct operating expenses Sales Interest expense General overhead Income tax Rails Division $ 47,200 27,200 108,000 Ob. $47,280 O c. $14,790 O d. $27,240 $30,720 20,040 78,000 The income from operations for the Locomotive Division is O a. $57,960 Corporate Total $ 2,040 18,160 4,700
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