Use the Following Information for the Following Questions:
Sesame

question 21

Multiple Choice

Use the following information for the following questions:
Sesame Corp.'s adjusted trial balance at December 31, 2020, included the following:
$\begin{array}{c}\begin{array}{lll}\\\text {Sales......................................................................}\\\text {Cost of goods sold..................................................}\\\text {Administrative expenses........................................}\\\text {Loss on sale of equipment.......................................}\\\text {Sales commissions..................................................}\\\text {Interest revenue.....................................................}\\\text {Loss of warehouse due to flood...............................}\\\text {Loss from operation of discontinued division.........}\\\text {Bad debt expense....................................................}\\\text {Totals.....................................................................}\end{array}\begin{array}{lll}\underline{\text {Debit}}\\\\\$ 70,000 \\28,000 \\11,000 \\9,000\\\\15,000 \\24,000 \\\underline{5,000} \\\underline{ \$ 162,000 }\\\end{array}\begin{array}{lll}\underline{\text {Credit}}\\\$170,000\\\\ \\ \\\\6,000\\ \\ \\\underline{\quad\quad} \\\underline{ \$ 176,000 }\\\end{array}\end{array}$

Sesame uses the perpetual system, and their income tax rate is $30 \%$ .
-On Sesame's multiple-step income statement for 2020, income from continuing operations is

• A) $17,500.
• B) $52,800.
• C) $24,500.
• D) $26,600.

---

Definitions:

Experiments

are systematic investigations conducted to test hypotheses, involving controlled variables to determine effects and outcomes.

Qualitative Research

A data-collection process that examines and interprets nonnumerical material.

Field Research

A method of collecting data through first-hand observation or interaction within a natural setting outside the laboratory or office.

Probability Sample

A probability sample is a sampling technique in which each member of the population has a known and equal chance of being selected, ensuring that the sample represents the larger population.