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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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6 years ago
From the following partial data, prepare a departmental income statement showing income before tax along with net income for Mason Corporation for the month ended December 31.

Net Sales-Sporting Goods   $3,000
Net Sales-Shoes   1,500
Cost of Goods Sold-Sporting Goods   1,950
Cost of Goods Sold-Shoes   900
Income Tax Rate is 30%
Sporting Goods Dept.-5,000 square feet
Shoe Dept.-3,000 square feet

The following items are indirect expenses and should be allocated:

   Basis of Appropriation
Building Expense   $240   Square Footage
Delivery Expense   $135   Net Sales
Depreciation Expense   $40   Square Footage
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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OmpaOmpa
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6 years ago
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upton Author
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6 years ago
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lierac00
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Good timing, thanks!
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