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1. Lê Khánh Quỳnh - 311910 2.5
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1 excel workbook with files for each member!
E5-10B Krueger Company
a) Income statement
For the Year ended December 31,2017
Net sales $1,650,000
Cost of goods sold 922,000
Gross profit 728,000
Operating expenses 647,000
Income from operations 81,000
Other revenues and gains
Interest revenue $20,000
Other expenses and losses
Interest expense $49,000
Lost on disposal of equipment 7,000 ($36,000)
Net income $45,000

b) Krueger Company
Income statement
For the Year ended December 31,2017
Revenues
Net Sales $1,650,000
Interest revenue 20,000
Total revenues 1,670,000
Expenses
Cost of goods sold $922,000
Operating Expenses 647,000
Interest Expense 49,000
Lost on disposal of equipment 7,000
Total expenses $1,625,000
Net income 45,000
E5- 20B
(a)

1/ April 5 Inventory…………………………………………………………….. 30,000


Accounts Payable………………………………… 30,000
2/ April 6 Inventory…………………………………………………………….. 800
Cash……………………………………………………. 800
3/ April 7 Equipment………………………………………………………….. 37,000
Accounts Payable………………………………… 37,000
4/ April 8 Accounts Payable…………………………………………………. 3,000
Inventory…………………………………………… 3,000
5/ April 15 Accounts Payable…………………………………………………. 27,000
Inventory…………………………………………… 540
Cash……………………………………………………. 26,460

(b) May 4 Accounts Payable………………………………………………. 27,000


Cash……………………………………………………. 27,000