Feb 2015

On Feb 1, the NANA Company was organized by Sami Al-Hulwah. he opened a bank account under the name of NANA Company and made a deposit of 1,000,000 $ to start the new business.

On Feb 3, purchased land and building for 700,000 $ in cash. The land was valued at 300,000$; the building at 400,000 $ issues check no 1

On Feb 11, received furniture purchased on open charge account from Khaled Company for 80,000 $; supplier's invoice dated Feb 8, 2020.

On Feb 20, Paid the Khaled Company 50,000 $ on amount owed to it. Issued check no. 2.

On Feb 25, the company found that some of the furniture was not what it wanted, so it sold the furniture, which had cost 10,800 $, to Mohammed Faith for 10,800 $ on account. Faith promised to pay this amount in 30 days; issued invoice no. 1.

On Feb 29, collected 10,000 $ from Mohammed Faith on amount he owed to NANA Company. for the furniture sold to him on Feb 25.

Required:

2. Cost Accounting/Managerial Accounting One Business Corporations Cost Data Table.

A. Cost of Goods Manufactured Statement

B. Cost of Goods Sold

C. Income Statement for Cost Accounting