s****i 发帖数: 66 | 1 The following question is based on the following:
Vane Co.'s trial balance of income statement accounts for the year ended
December 31, Year 1, included the
following:
Debit Credit
Sales $575,000
Cost of sales $240,000
Administrative expenses 70,000
Loss on sale of equipment 10,000
Sales commissions 50,000
Interest revenue 25,000
Freight out 15,000
Loss on early retirement of long-term debt (unusual & infrequent item) 20,
000
Uncollectible accounts expense 15,000
Totals $420,000 $600,000
Other information
Finished goods inventory:
January 1, Year 1 $400,000
December 31, Year 1 $360,000
Vane's income tax rate is 30%.
In Vane's Year 1 multiple-step income statement, what amount should Vane
report as income from continuing
operations?
a. $126,000
b. $129,500
c. $140,000
d. $147,000
答案为C,就是把20,000加回来了,我不明白为什么不用Beg inventory和ending
inventory的信息把purchase算出来以后总数还减掉purchase呢? | j******g 发帖数: 200 | 2 这是第几节的题目?题号是多少?这样看有点费劲,我刚刚做完第一章的题目,hehe
【在 s****i 的大作中提到】 : The following question is based on the following: : Vane Co.'s trial balance of income statement accounts for the year ended : December 31, Year 1, included the : following: : Debit Credit : Sales $575,000 : Cost of sales $240,000 : Administrative expenses 70,000 : Loss on sale of equipment 10,000 : Sales commissions 50,000
| s****i 发帖数: 66 | 3 Becker 2011 Passmaster F1 topic 2 Income statement 18 of 52 or CPA 00070.就
是不知道为什么不把purchase算出来以后从所有的expense中再减掉。多谢! | j******g 发帖数: 200 | 4 如果按照题目给的数字,600-420 =180, 180是income
但是这个income里面包含了extradinary items,loss: 20
题目问的是continuting operation income,不应该包括这个20,所以应该恢复,
加还是减要看是loss 还是gain,
true continuing operation income - 20 = 180
所以true continuing operation income = 200
希望说明白了 :)
【在 s****i 的大作中提到】 : Becker 2011 Passmaster F1 topic 2 Income statement 18 of 52 or CPA 00070.就 : 是不知道为什么不把purchase算出来以后从所有的expense中再减掉。多谢!
| j******g 发帖数: 200 | 5 btw,好像没看到和purchase相关的数字?
【在 s****i 的大作中提到】 : The following question is based on the following: : Vane Co.'s trial balance of income statement accounts for the year ended : December 31, Year 1, included the : following: : Debit Credit : Sales $575,000 : Cost of sales $240,000 : Administrative expenses 70,000 : Loss on sale of equipment 10,000 : Sales commissions 50,000
| s****i 发帖数: 66 | 6 可以用题目给的已知BB of inventory and ending balance of inventory和cost of
sales求出purchase的值来,而题干中没给这项,所以我想是不是这个题的trick,但答
案并没包括purchase的值。 |
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