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ACC 280 / XACC 280 Problem P15-1 Comparative statement data for Douglas Company and Maulder Company, two competitors, appear

ACC 280 / XACC 280 Problem P15-1 Comparative statement data for Douglas Company and Maulder Company, two competitors, appear

 
Axia College of University of Phoenix (UoP)

 
Principles of Accounting: Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

 
ACC 280 / XACC 280

 
Tutorial ACC 280

Solution XACC 280

Answer XACC 280

 

Problem P15-1(6 Points)

Comparative statement data for Douglas Company and Maulder Company, two competitors, appear below. All balance sheet data are as of December 31, 2009, and December 31, 2008.

 


Douglas Company


Maulder Company


2009

2008


2009

2008

Net sales

15,49,035



3,39,038


Cost of goods sold

10,80,490



2,41,000


Operating expenses

3,02,275



79,000


Interest expense

8,980



2,252


Income tax expense

54,500



6,650








Current assets

3,25,975

3,12,410


83,336

79,467

Plant assets (net)

5,21,310

5,00,000

 

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