Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Ask your questions and receive detailed answers from professionals with extensive experience in various fields. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Smith Corporation has provided the following information: Cash sales totaled $135,000. Credit sales totaled $289,000. Cash collections from customers for services yet to be provided totaled $48,000. An $10,000 gain from the sale of property and equipment occurred. Interest income totaled $8,700. How much of these items were included in operating income

Sagot :

Answer:

$434,000

Explanation:

The total amount that should be included in the operating income as follows:

1. Cash sales $135,000

2. Credit sales $289,000

3. Gain from the sale of property and the equipment $10,000

Operating income $434,000

hence, the $434,000 should be included in the operating income

We hope this was helpful. Please come back whenever you need more information or answers to your queries. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.