CourseLover

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    Devry University
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    NatSteel Holdings Pte Ltd
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Category > Business & Finance Posted 09 Dec 2017 My Price 10.00

Clay Corporation,s financial data

Clay Corporation was organized on January 1, current year. At the end of the current year, the following financial data are available:
 

 
Total revenues $ 299,000
Total expenses (excluding income taxes)   184,000
Income tax expense (all unpaid as of December 31)   34,500
Cash   70,150
Receivables from customers (all considered collectible)   34,500
Merchandise inventory (by inventory count at cost)   96,600
Payables to suppliers for merchandise purchased from them
  (will be paid during February current year)		   26,450
Common stock   59,800


No dividends were declared or paid during the first year.

 

Required:

Complete the following two statements:

 



 

Answers

CourseLover
(12)
Status NEW Posted 09 Dec 2017 03:12 PM My Price 10.00

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