Finished goods inventory, ending General and administrative expenses Accounts receivable Finished goods inventory, beginning Cost of goods manufactured Selling expenses Cash Land Sales. Equipment $ 16,700 14,700 18,700 19,700 40,700 12,700 55,700 28,700 93,400 1,700

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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5.

 

es
Finished goods inventory, ending
General and administrative expenses
Accounts receivable
Finished goods inventory, beginning
Cost of goods manufactured
Selling expenses
Cash
Land
Sales
Equipment
Sales
Cost of goods sold
Finished goods inventory, beginning
Cost of goods manufactured
Goods available for sale
Less: Finished goods inventory, ending
Cost of goods sold
REX MANUFACTURING
Income Statement
For Year Ended December 31
Gross profit
General and administrative expenses
Selling expenses
Net income
$ 16,700
14,700
18,700
19,700
40,700
12,700
55,700
28,700
93,400
1,700
$
19,700
40,700
60,400
(16,700)
$
93,400
43,700
49,700
Transcribed Image Text:es Finished goods inventory, ending General and administrative expenses Accounts receivable Finished goods inventory, beginning Cost of goods manufactured Selling expenses Cash Land Sales Equipment Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold REX MANUFACTURING Income Statement For Year Ended December 31 Gross profit General and administrative expenses Selling expenses Net income $ 16,700 14,700 18,700 19,700 40,700 12,700 55,700 28,700 93,400 1,700 $ 19,700 40,700 60,400 (16,700) $ 93,400 43,700 49,700
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