ACCT212_WorkingPapers_E12-20A

ACCT212_WorkingPapers_E12-20A - FINANCIAL ACCOUNTING -...

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FINANCIAL ACCOUNTING - Eighth Edition Solutions Manual Chapter 12: The Statement of Cash Flows Page 1 of 1 E12-20A (20-30 min.) The income statement and additional data of Newbury Travel Products, Inc., follow: Newbury Travel Products, Inc. Income Statement Year Ended December 31, 2010 Revenues: Service revenue . .................................................................. $283,000 Dividend revenue. ................................................................. 8,000 $291,000 Expenses: Cost of goods sold . ............................................................. 103,000 Salary expense . ................................................................... 78,000 Depreciation expense. ........................................................ 26,000 Advertising expense . .......................................................... 4,500 Interest expense . ................................................................. 2,600 Income tax expense. ............................................................
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This note was uploaded on 03/18/2012 for the course ACCT 212 taught by Professor Johnson during the Fall '11 term at DeVry Arlington.

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