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Rasek [7]
3 years ago
6

Paper Clip Company sells office supplies. The following information summarizes the​ company's operating activities for the​ year

: Utilities for the store ​$ 9 comma 600 Sales commissions 10 comma 100 Sales revenue 164 comma 800 Purchases of merchandise 89 comma 900 January 1 inventory 27 comma 000 Rent for store 13 comma 800 December 31 inventory 23 comma 500 What is operating​ income?
Business
1 answer:
marin [14]3 years ago
3 0

Answer:

$41,400

Explanation:

Calculation for Paper Clip Company Operating income

OPERATING NET INCOME for Paper Clip Company

Sales revenue 164,800

Less: Purchases of merchandise (89,900)

Utilities for the store (9,600)

Sales commission (10,100)

Rent for store (13,800)

Operating net income $41,400

Therefore the Operating net income will be $41,400

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How are bonds payable usually classified on the balance sheet?
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Bonds payable that are <u>long-term obligations</u> are typically recorded on the balance sheet.

<h3><u>How do long-term liabilities work?</u></h3>

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Long-term liabilities are also referred to as noncurrent liabilities or long-term debt. The balance sheet's part that may include debentures, loans, deferred tax liabilities, and pension obligations is where long-term liabilities are stated following more immediate liabilities.

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7 0
2 years ago
why did wiesel write the book night how it connect with readers and who should read the book and why?
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3 years ago
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Dmitriy789 [7]

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