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Hoth manufactures cold weather clothing. At the end of June , 2019, the accountant for Hoth compiled the following information.
Administrative Expense $22,000Direct Labor $9,000Ending Finished Goods $10,000Ending Raw Materials $26,000Ending Work-in-Process $9,000Manufacturing Overhead $8,000Raw Materials Purchases $60,000Sales Revenue $135,000Selling Expense $29,000
Problem 1: Prepare an income statement for June.
Journalize the Extend to record (1) depreciation for the six months of the current year ending December 31 1995, and (2) the sale of equipment.
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