Acc202 10-2

Problem 10-21Product versus general, selling, and administrative be The following proceeding touch on to 2012, the first year operations of Hall Company. exclusively inven- tory was started and stainless during 2012. Assume that all transactions are gold transactions. 1.Acquired $4,000 hard currency by issuing common stock. 2.Paid $720 for materials apply to produce retire stock. 3.Paid $1,800 to end product workers. 4.Paid $540 rental pay for production equipment. 5.Paid $180 to administrative employees. 6.Paid $ receipts rental fee for administrative office equipment. 7.Produced ccc units of inventory of which 200 units were exchange at a terms of $12 each. Required Prepare an income statement, balance sheet, and statement of silver flows. Product costs are all costs associated with the production of goods (not including rental or admin costs) whereas general, selling, and admin costs cover rental expenses, administrative salaries (not labor), mark eting, etc. Basically, everything only the costs to produce the goods.

Income Statement gross revenue Revenue                                                                                  2,400 Cost of goods sold                                                                      -     2,040 Gross margin                                                                                        360 S,G, & international ampere; A! expense                                                             Salaries expense                                                              (180) Depreciation expense- office article of furniture                                                             (144 ) Net Income                                                                                                           36   Balance Sheet Assets                 specie                                                                                      3,016                 blameless Goods Inventory                 Â Â Â Â Â Â Â Â Â Â Â                            1020...If you want to get a salutary essay, articulate it on our website: BestEssayCheap.com

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