Use the following scenario to answer questions 11-12. A city…
Use the following scenario to answer questions 11-12. A city council is interested in determining how satisfied residents are in their local parks. They determine a route through the city that passes by every house. They decide they will knock on doors and ask residents to answer the following question “How do your local parks make your life better?”. They randomly choose to start at the 18th house along the route and then stop at every 50th house after that.
Read DetailsLogan Corp.’s trial balance of income statement accounts for…
Logan Corp.’s trial balance of income statement accounts for the year ended December 31, 2017 included the following: Debit Credit Sales revenue $292,000 Cost of goods sold $170,000 Administrative expenses 40,000 Loss on disposal of equipment 18,000 Sales commission expense 16,000 Interest revenue 10,000 Freight-out 6,000 Loss from discontinued operations 24,000 Bad debt expense 6,000 Totals $280,000 $290,000 Other information: Logan’s income tax rate is 30%. Finished goods inventory: January 1, 2017 $160,000 December 31, 2017 140,000 On Logan’s multiple-step income statement for 2017, income from continuing operations is:
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