39-The remainder of the income statement accounts at the end of the 202nd year of our business are as follows:Remaining Receivable of 600 Domestic Sales Account: 750,000 TLRemaining Receivable of 601 Foreign Sales Account: 280.000 TL621 Cost of Goods Sold Account Debit: 490.000 TL632 General Administrative Expenses Account Debit Remaining: 75.000 TL642 Interest Income Hs. Remaining Account Receivable: 40.000 TLRemaining Receivable of 649 Other Ordinary Income and Profits Account: 20.000 TLDebt Remainder of 660 Short-Term Borrowing Expenses Account: 66.000 TL Expenditures that are not legally accepted are 36.000 TL, tax exempt income is 15.000 TL, and the corporate tax rate is 22%. How much is the Distributable Profit of the Business? a)1.090.000 TL B)353,400 TL NS)495.000 TL D)631.000 TL TO)295.000 TL

Distributable income is the income which is available to owner of the business after all expense…

Answered: The remainder of the income statement…

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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The remainder of the income statement accounts at the end of the 202nd year of our business are as follows:

Remaining Receivable of 600 Domestic Sales Account: 750,000 TL
Remaining Receivable of 601 Foreign Sales Account: 280.000 TL
621 Cost of Goods Sold Account Debit: 490.000 TL
632 General Administrative Expenses Account Debit Remaining: 75.000 TL
642 Interest Income Hs. Remaining Account Receivable: 40.000 TL
Remaining Receivable of 649 Other Ordinary Income and Profits Account: 20.000 TL
Debt Remainder of 660 Short-Term Borrowing Expenses Account: 66.000 TL

Expenditures that are not legally accepted are 36.000 TL, tax exempt income is 15.000 TL, and the corporate tax rate is 22%. How much is the Distributable Profit of the Business?

a)	1.090.000 TL

B)	353,400 TL

NS)	495.000 TL

D)	631.000 TL

TO)	295.000 TL

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