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Question

LoganCorp.'strialbalanceofincomestatementaccountsfortheyearendedDecember

31,2012includedthefollowing:

<

br />



Salesrevenue

Costofgoodssold

Administrativeexpenses

Loss ondisposalofequipment SalescommissionexpenseInterestrevenue

Freight-out

Lossduetoearthquakedamage

Bad debt  expense

Totals



Debit            Credit

$280,000

$100,000

50.000

18,000

16.000

10,000

6,000

 24,000


6,000

$220,000


Otherinformation:

Logan'sincometaxrateis30%.Finishedgoodsinventory: January1,2012    $160,000

December31,2012                             140,000

OnLogan'smultiple-stepincomestatementfor2012,


Extraordinarylossis

A)

$16,800.

B)

$24,000.

C)

$29,400.

D)

$42,000.

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