Chapter 4 Interest revenue should be reported under the caption

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subject Authors Carl S. Warren

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page-pf1
113
E4–14
a.
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
b.
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Inventory = Payable
c.
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Cash + = Payable
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114
E4–15
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Retained Statement
E4–16
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Estimated Returns Customer Retained Statement
Inventory = Refunds Payable Earnings
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115
E4–17
E4–18
a. LANGE DAUGHTERS INC.
Income Statement
For the Year Ended March 31, 20Y5
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116
E4–19
LOMA COMPANY
Income Statement
For the Year Ended April 30, 20Y6
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117
E4–20
CARLSBAD COMPANY
Income Statement
For the Year Ended February 28, 20Y8
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118
PROBLEMS
P4–1
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Inventory = Payable
*$32,732 = $33,400 – ($33,400 × 2%)
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Cash + Inventory =Payable
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119
P4–1, Concluded
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Cash = Payable
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120
P4–2
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Rec. + Inventory = Earnings
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Rec. + Inventory = Earnings
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Rec. + Inventory = Earnings
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121
P4–2, Continued
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Cash + Rec. = Earnings
Balance Sheet
Statement of Assets = Liabilities + Stockholders’ Equity Income
Cash Flows Accts. Est. Returns Cust. Refunds Retained Statement
Rec. + Inventory + Inventory = Payable + Earnings
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Cash + Rec. = Earnings
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122
P4–2, Concluded
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Retained Statement
Cash = Earnings
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement

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