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Question 2- Manufacturing Statement and Classified Income Statement The following list of items was taken from the adjusted trial balance and other 2018 records of
Question 2- Manufacturing Statement and Classified Income Statement The following list of items was taken from the adjusted trial balance and other 2018 records of Harris Company before the year-end closing entries were recorded: Factory utilities 27,000 Direct labour 543,200 Transportation-in on raw materials 24,000 Income taxes expense 110,400 Indirect labour 47,250 Inventories: Raw materials, January 1 122,750 Raw materials, December 31 136,350 Goods in process, January 1 8,200 Goods in process, December 31 11,250 Finished goods, January 1 120,800 Finished goods, December 31 113,400 Miscellaneous production costs 7,600 Office salaries expense 56,700 Raw materials purchases 701,000 Rent expense, office space 18,900 Rent expense, selling space 19,200 Rent on factory building 64,800 Maintenance, factory equipment 22,000 Sales 2,431,350 Sales discounts 50,000 Sales salaries expense 236,250 Factory supervision 97,200 Advertising expense 19,200 Amortization of factory equipment 28,350 Amortization expense, Office equipment 6,750 Amortization of selling equipment 7,100 Factory supplies used 12,900 Required: Complete The Manufacturing Statement and Classified Income Statement for Harris Company
Question 2- Manufacturing Statement and Classified Income Statement
The following list of items was taken from the adjusted trial balance and other 2018 records of Harris Company before the year-end closing entries were recorded:
Factory utilities
27,000
Direct labour
543,200
Transportation-in on raw materials
24,000
Income taxes expense
110,400
Indirect labour
47,250
Inventories:
Raw materials, January 1
122,750
Raw materials, December 31
136,350
Goods in process, January 1
8,200
Goods in process, December 31
11,250
Finished goods, January 1
120,800
Finished goods, December 31
113,400
Miscellaneous production costs
7,600
Office salaries expense
56,700
Raw materials purchases
701,000
Rent expense, office space
18,900
Rent expense, selling space
19,200
Rent on factory building
64,800
Maintenance, factory equipment
22,000
Sales
2,431,350
Sales discounts
50,000
Sales salaries expense
236,250
Factory supervision
97,200
Advertising expense
19,200
Amortization of factory equipment
28,350
Amortization expense, Office equipment
6,750
Amortization of selling equipment
7,100
Factory supplies used
12,900
Required:
Complete The Manufacturing Statement and Classified Income Statement for Harris Company
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
