The following are the revenue and expense accounts for the year ending August 31, 2009, for Hammer Corporation:
A. Calculate the amount of gross profit for Hammer Corporation for the year ending August 31, 2009.
B. How much should be reported as 'Other Revenues'?

Question

The following are the revenue and expense accounts for the year ending August 31, 2009, for Hammer Corporation:
  A. Calculate the amount of gross profit for Hammer Corporation for the year ending August 31, 2009.
B. How much should be reported as 'Other Revenues'?

Quizplus · Accepted Answer

The Answer of The following are the revenue and expense accounts for the year ending August 31, 2009, for Hammer Corporation:
  A. Calculate the amount of gross profit for Hammer Corporation for the year ending August 31, 2009.
B. How much should be reported as 'Other Revenues'?

The Following Are the Revenue and Expense Accounts for the Year