Agler Company is a manufacturer ot toys. Its controller resigned in August 2020. An inexperienced...
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Accounting
Agler Company is a manufacturer ot toys. Its controller resigned in August 2020. An inexperienced assistant accountant has prepared the following income statement for the month of August 2020 AGLER COMPANY Income Statement For the Month Ended August 31, 2020 Sales (net) Less: Operating expenises $675,000 Raw materials purchases Direct labour cost Advertising expense Selling and administrative salaries70,000 Rent on factory facilities Depreciation on sales equipment 50,000 Depreciation on factory equipment 35,000 Indirect labour cost Utilities expense Insurance expense $200,000 160,000 75,000 60,000 20,000 10,000 5,000685,000 s (10,000) Net loss
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