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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 32
Income Statement
Jiminez, Inc., had the following transactions during the month of March 2015. Prepare an income statement based on this information, being careful to include only those items that should appear in that financial statement.
1. Cash received from bank loans was $10,000.
2. Revenues earned and received in cash were $9,850.
3. Dividends of $4,000 were paid to stockholders.
4. Expenses incurred and paid were $5,465.
Jiminez, Inc., had the following transactions during the month of March 2015. Prepare an income statement based on this information, being careful to include only those items that should appear in that financial statement.
1. Cash received from bank loans was $10,000.
2. Revenues earned and received in cash were $9,850.
3. Dividends of $4,000 were paid to stockholders.
4. Expenses incurred and paid were $5,465.
Explanation
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Income statement:
Income statement is o...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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