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WHAT IS THE TOTAL GENERAL AND ADMINISTRAVE EXPENSES?

WHAT IS THE TOTAL GENERAL AND ADMINISTRAVE EXPENSES?

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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WHAT IS THE TOTAL GENERAL AND ADMINISTRAVE EXPENSES?

 

Sales Sales returns 559,000 5,500 Inventories, January 1: Raw materials 13,100 23,800 44,200 Work in process Finished goods Inventories, December 31: Raw materials 14,500 17,750 41,200 105,000 Work in process Finished goods Direct labor Raw materials purchases Purchase returns and allowances 205,300 1,700 1,250 850 Purchase discounts Freight in Advertising Amortization - patents 20,000 3,300 2,000 4,400 2,550 6,400 7,700 8,400 6,500 7,800 3,530 5,600 5,000 15,500 1,320 44,500 6,500 1,050 Bad debts Depreciation - factory building Depreciation - machinery and factory equipment Depreciation- office equipment Depreciation - store equipment Dividends paid Factory light and power Factory supplies used Indirect labor Interest income Miscellaneous factory expenses Office salaries Property taxes and insurance - office Sales salaries Office supervision Factory tools (amount is immaterial) Note: Income tax rate applicable for the company is 30%.
Transcribed Image Text:Sales Sales returns 559,000 5,500 Inventories, January 1: Raw materials 13,100 23,800 44,200 Work in process Finished goods Inventories, December 31: Raw materials 14,500 17,750 41,200 105,000 Work in process Finished goods Direct labor Raw materials purchases Purchase returns and allowances 205,300 1,700 1,250 850 Purchase discounts Freight in Advertising Amortization - patents 20,000 3,300 2,000 4,400 2,550 6,400 7,700 8,400 6,500 7,800 3,530 5,600 5,000 15,500 1,320 44,500 6,500 1,050 Bad debts Depreciation - factory building Depreciation - machinery and factory equipment Depreciation- office equipment Depreciation - store equipment Dividends paid Factory light and power Factory supplies used Indirect labor Interest income Miscellaneous factory expenses Office salaries Property taxes and insurance - office Sales salaries Office supervision Factory tools (amount is immaterial) Note: Income tax rate applicable for the company is 30%.
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