{"id":23665,"date":"2022-01-09T02:06:40","date_gmt":"2022-01-09T02:06:40","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/in-its-income-statement-for-the-year-ended-december-31-2014-gavin\/"},"modified":"2022-01-09T02:06:40","modified_gmt":"2022-01-09T02:06:40","slug":"in-its-income-statement-for-the-year-ended-december-31-2014-gavin","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/in-its-income-statement-for-the-year-ended-december-31-2014-gavin\/","title":{"rendered":"In its income statement for the year ended december 31, 2014, gavin"},"content":{"rendered":"<div>\n<p><span>In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data.<\/span><\/p>\n<table width=\"550\">\n<tbody>\n<tr>\n<td>Salaries and wages expenses<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">$465,000<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td>Loss on disposal of plant assets<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">$\u00a083,500<\/td>\n<\/tr>\n<tr>\n<td>Cost of goods sold<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">987,000<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td>Sales revenue<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">2,210,000<\/td>\n<\/tr>\n<tr>\n<td>Interest expense<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">71,000<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td>Income tax expense<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">25,000<\/td>\n<\/tr>\n<tr>\n<td>Interest revenue<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">65,000<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td>Sales discounts<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">160,000<\/td>\n<\/tr>\n<tr>\n<td>Depreciation expenses<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">310,000<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td>Utilities expense<\/td>\n<td width=\"10\">\u00a0<\/td>\n<td align=\"right\">\n<p>110,000<\/p>\n<p>\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data. Salaries and wages expenses \u00a0 $465,000 \u00a0 Loss on disposal of plant assets \u00a0 $\u00a083,500 Cost of goods sold \u00a0 987,000 \u00a0 Sales revenue \u00a0 2,210,000 Interest expense \u00a0 71,000 \u00a0 Income tax expense \u00a0 25,000 Interest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-23665","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/23665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=23665"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/23665\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=23665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=23665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=23665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}