Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint. Not all information given is needed for the solution. 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 Selling expenses General and administrative expenses Net income $ 16,100 14,100 REX MANUFACTURING Income Statement For Year Ended December 31 18,100 19,100 40,100 12, 100 55,100 28,100 92,200 1,100 $ 19,100 40,100 59,200 16,100 $ 92,200 12,100 14,100

Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint. Not all information given is needed for the solution. 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 Selling expenses General and administrative expenses Net income $ 16,100 14,100 REX MANUFACTURING Income Statement For Year Ended December 31 18,100 19,100 40,100 12, 100 55,100 28,100 92,200 1,100 $ 19,100 40,100 59,200 16,100 $ 92,200 12,100 14,100

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter27: Adjustments, Financial Statements, And Year-end Accounting For A Manufacturing business

Section: Chapter Questions

Problem 1MP: Reese Manufacturing Company manufactures and sells a limited line of products made to customer...

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