The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020
Instructions
- Prepare a cost of goods manufactured schedule (Assume all raw materials used were direct materials.)
- Prepare an income statement through gross profit.
- Prepare the current assets section of the balance sheet at June 30, 2021
Solution
a.
Clarkson Company
Cost of goods manufactured schedule
For the Year Ended June 30, 2021
Cost of goods manufactured schedule
For the Year Ended June 30, 2021
b.
Clarkson Company
Income Statement (Partial)
For the Year Ended June 30, 2021
Income Statement (Partial)
For the Year Ended June 30, 2021
c.
Clarkson Company
Balance Sheet (Partial)
June 30, 2021
Balance Sheet (Partial)
June 30, 2021
