Information for the next 3 questions. The transactions listed below are from a farmer using...
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Information for the next 3 questions. The transactions listed below are from a farmer using a single-entry cash accounting system. Using the information provided below to answer the questions that follow. Date Jul. 2012 Aug. 2012 Dec. 2012 Feb. 2013 Feb. 2013 Mar. 2013 Jul. 2013 Aug. 2013 Nov. 2013 Ref 6400 6600 4080 6750 4080 6400 4020 6600 6500 Description Crop expense Depreciation expense Livestock sales Feed and grain expense Livestock sales Crop expense Crop sales Depreciation expense Livestock expense Amount (S) $ 5,250 $ 2,100 $15,250 $13,200 $24,150 $ 6,500 $25,900 $ 2,300 $ 2,200 Question 14 (3 points) What is the net farm income for the calendar year 2012? $15,250 $13,150 $10,000 $7,900 $10,000 $7,900 Question 15 (3 points) What is the net farm income for the calendar year 2013? $33,750 O $25,850 $8,750 $1,700 Question 16 (3 points) What is the net farm income for the fiscal year Jul. 1 2012 to Jun. 30 2013? $40,350 $38,250 $14,450 $12,350
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