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 Gross profit General and administrative expenses Selling expenses Net income $ 16,300 14,300 REX MANUFACTURING Income Statement For Year Ended December 31 18,300 19,300 40,300 12,300 55,300 28,300 92,600 1,300 $ 19,300 40,300 59,600 $ 92,600

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 Gross profit General and administrative expenses Selling expenses Net income $ 16,300 14,300 REX MANUFACTURING Income Statement For Year Ended December 31 18,300 19,300 40,300 12,300 55,300 28,300 92,600 1,300 $ 19,300 40,300 59,600 $ 92,600

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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