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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 63
Use the financial data for Randa Merchandising, Inc., in Exercise 17-13 to prepare its income statement for calendar year 2015. (Ignore the earnings per share section.)
Reference: Exercise 17-13
In 2015, Randa Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections of an income statement follows:
A. Income (loss) from continuing operations
B. Income (loss) from operating, or gain (loss) from disposing, a discontinued segment
C. Extraordinary gain (loss)
Indicate where each of the following income-related items for this company appears on its 2015 income statement by writing the letter of the appropriate section in the blank beside each item.
Reference: Exercise 17-13
In 2015, Randa Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections of an income statement follows:
A. Income (loss) from continuing operations
B. Income (loss) from operating, or gain (loss) from disposing, a discontinued segment
C. Extraordinary gain (loss)
Indicate where each of the following income-related items for this company appears on its 2015 income statement by writing the letter of the appropriate section in the blank beside each item.
Explanation
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Income statement is financial statements...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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