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Christian Company provided the following data for the current year: Sales Sales salaries Advertising Indirect labor Delivery expense Freight in Depreciation- machinery Factory taxes Purchases Direct labor Factory supplies expense Office supplies expense Office salaries 8,000,000 520,000 120,000 600,000 160,000 80,000 50,000 130,000 1,600,000 1,480,000 120,000 30,000 800,000 480,000 100,000 150,000 220,000 170,000 Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods Goods in process Raw materials 200,000 decrease 90,000 decrease 100,000 increase Required: Prepare an income statement for the current year supported by a schedule of cost goods manufaatunO

Christian Company provided the following data for the current year: Sales Sales salaries Advertising Indirect labor Delivery expense Freight in Depreciation- machinery Factory taxes Purchases Direct labor Factory supplies expense Office supplies expense Office salaries 8,000,000 520,000 120,000 600,000 160,000 80,000 50,000 130,000 1,600,000 1,480,000 120,000 30,000 800,000 480,000 100,000 150,000 220,000 170,000 Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods Goods in process Raw materials 200,000 decrease 90,000 decrease 100,000 increase Required: Prepare an income statement for the current year supported by a schedule of cost goods manufaatunO

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Christian Company provided the following data for the Problem 9-3 (IAA) Christian Company provided the following data for the current year: Sales Sales salaries Advertising Indirect labor Delivery expense Freight in Depreciation - machinery Factory taxes Purchases Direct labor 8,000,000 520,000 120,000 600,000 160,000 80,000 50,000 130,000 1,600,000 1,480,000 120,000 30,000 800,000 480,000 100,000 150,000 220,000 170,000 Factory supplies expense Office supplies expense Office salaries Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods Goods in process Raw materials 200,000 decrease 90,000 decrease 100,000 increase Required: Prepare an income statement for the current year supported by a schedule of cost goods manufactured.
Transcribed Image Text:Christian Company provided the following data for the Problem 9-3 (IAA) Christian Company provided the following data for the current year: Sales Sales salaries Advertising Indirect labor Delivery expense Freight in Depreciation - machinery Factory taxes Purchases Direct labor 8,000,000 520,000 120,000 600,000 160,000 80,000 50,000 130,000 1,600,000 1,480,000 120,000 30,000 800,000 480,000 100,000 150,000 220,000 170,000 Factory supplies expense Office supplies expense Office salaries Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: Finished goods Goods in process Raw materials 200,000 decrease 90,000 decrease 100,000 increase Required: Prepare an income statement for the current year supported by a schedule of cost goods manufactured.
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