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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Problem 10-21 Product versus general, selling, and administrative costs
The following transactions pertain to 2012, the first year operations of Hall Company. All inven- tory was started and completed during 2012. Assume that all transactions are cash transactions.
1. Acquired $4,000 cash by issuing common stock.
2. Paid $720 for materials used to produce inventory.
3. Paid $1,800 to production workers.
4. Paid $540 rental fee for production equipment.
5. Paid $180 to administrative employees.
6. Paid $144 rental fee for administrative office equipment.
7. Produced 300 units of inventory of which 200 units were sold at a price of $12 each.
Required
Prepare an income statement, balance sheet, and statement of cash flows.
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------