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Presented below is information related to Ivan Calderon Corp. for the year 2014.

Net sales $1,395,000 Write-off of inventory due to obsolescence $82,400
Cost of goods sold 782,400 Depreciation expense omitted by accident in 2013 47,700
Selling expenses 70,800 Casualty loss (extraordinary item) before taxes 54,600
Administrative expenses 54,900 Cash dividends declared 53,100
Dividend revenue 28,900 Retained earnings at December 31, 2013 985,700
Interest revenue 7,700 Effective tax rate of 34% on all items

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Presented below is information related to Ivan Calderon Corp. for the year 2014.

Net sales $1,395,000 Write-off of inventory due to obsolescence $82,400
Cost of goods sold 782,400 Depreciation expense omitted by accident in 2013 47,700
Selling expenses 70,800 Casualty loss (extraordinary item) before taxes 54,600
Administrative expenses 54,900 Cash dividends declared 53,100
Dividend revenue 28,900 Retained earnings at December 31, 2013 985,700
Interest revenue 7,700 Effective tax rate of 34% on all items

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91037039

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