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An inventory loss from market decline of $900,000 occurred in April 2011. CD Company recorded this loss in April 2011 after its March 31, 2011, quarterly report was issued. None of this loss was recovered by the end of the year. How should this loss be reflected in the quarterly income statements of CD Company?
Three months ended (2011):
March 31 June 30 September 30 December 31
A) 0 0 0 $900,000
B) 0 $300,000 $300,000 $300,000
C) 0 $900,000 0 0
D) $225,000 $225,000 $225,000 $225,000
A financial forecast per professional pronouncements presents to the best of the responsible party's knowledge and belief,
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What is the common stock, retained earnings, cost of goods sold and net income. I have 5000 cash, 10000 inventory,45000 building,5000accounts payable.total liabitities stockholders 60000,revenues 80000 and administrative expeneses 10000
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