**Shamrock Company Income Statement (Partial)**This is a template for a partial income statement of Shamrock Company. The layout is designed for educational purposes, allowing students to input and organize financial data. ### Structure of the Template:1. **Title Section:** - "SHAMROCK COMPANY" - "Income Statement (Partial)"2. **Input Fields:** - Each line begins with a dropdown menu followed by text input boxes. The dropdowns are likely for selecting categories or labels (e.g., Revenue, Expenses). - Corresponding amount fields are present to the right, indicated with a dollar sign ($).3. **Dollar Input Fields:** - Two columns for dollar amounts: - First set of fields aligns with the categories on the left. - Second set of empty fields is at the far right, probably for sub-totals or additional calculations.4. **Additional Features:** - **eTextbook and Media**: This option, located at the bottom left, might link to additional resources or textbook references.### Usage:This template allows users to fill in different components of an income statement, such as revenues, expenses, and other financial metrics, in an organized manner. Users must select the correct category using the dropdown menus before entering the respective financial figures in the adjoining text boxes.This format is particularly helpful for accounting students or individuals learning to prepare financial statements, enabling them to practice and understand the structure of a typical income statement. **View Policies****Current Attempt in Progress**The following data were taken from the records of Shamrock Company for the fiscal year ended June 30, 2022.- **Raw Materials Inventory 7/1/21**: $50,400- **Raw Materials Inventory 6/30/22**: $39,900- **Finished Goods Inventory 7/1/21**: $99,600- **Finished Goods Inventory 6/30/22**: $20,600- **Work in Process Inventory 7/1/21**: $27,300- **Work in Process Inventory 6/30/22**: $20,100- **Direct Labor**: $148,350- **Indirect Labor**: $25,660- **Accounts Receivable**: $28,000- **Factory Insurance**: $5,500- **Factory Machinery Depreciation**: $18,100- **Factory Utilities**: $30,100- **Office Utilities Expense**: $8,650- **Sales Revenue**: $562,100- **Sales Discounts**: $5,300- **Factory Manager's Salary**: $64,900- **Factory Property Taxes**: $9,610- **Factory Repairs**: $2,200- **Raw Materials Purchases**: $98,700- **Cash**: $38,200

Income Statement - Income Statement Includes income earned and Expense incurred during the financial…

View Policies Current Attempt in Progress The following data were taken from the records of Shamrock Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $50,400 39,900 99,600 20,600 27,300 20,100 148,350 25,660 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $28,000 5,500 18,100 30,100 8,650 562,100 5,300 64,900 9,610 2,200 98,700 38,200

View Policies Current Attempt in Progress The following data were taken from the records of Shamrock Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $50,400 39,900 99,600 20,600 27,300 20,100 148,350 25,660 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $28,000 5,500 18,100 30,100 8,650 562,100 5,300 64,900 9,610 2,200 98,700 38,200

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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