Please do not give solution in image format thanku Christian Company provided the following data for the yearended December 31, 2014:SalesSales salariesAdvertisingIndirect laborDelivery expenseFreight inDepreciation machineryFactory taxesPurchasesDirect laborFactory supplies expenseOffice supplies expenseOffice salariesFactory superintendenceDoubtful accountsFactory maintenanceFactory heat, light and powerIncome tax expense8,000,000520,000120,000600,000160,00080,00050,000130,0001,600,0001,480,000120,00030,000800,000480,000100,000150,000220,000170,000Inventory balances at the end of the fiscal period as comparedwith balances at the beginning of the fiscal period were asfollows:Finished goodsGoods in processRaw materialsRequired:Prepare an income statement for the year ended December31, 2014 supported by a schedule of cost goods manufactured.200,000 decrease90,000 decrease100,000 increase

Income Statement is one of the parts of the financial statements. It shows the company's profit or…

Christian Company provided the following data for the year ended December 31, 2014: 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 Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense 8,000,000 520,000 120,000 Finished goods Goods in process Raw materials 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 Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: 200,000 decrease 90,000 decrease 100,000 increase Required: Prepare an income statement for the year ended December 31, 2014 supported by a schedule of cost goods manufactured.

Christian Company provided the following data for the year ended December 31, 2014: 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 Factory superintendence Doubtful accounts Factory maintenance Factory heat, light and power Income tax expense 8,000,000 520,000 120,000 Finished goods Goods in process Raw materials 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 Inventory balances at the end of the fiscal period as compared with balances at the beginning of the fiscal period were as follows: 200,000 decrease 90,000 decrease 100,000 increase Required: Prepare an income statement for the year ended December 31, 2014 supported by a schedule of cost goods manufactured.

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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