Partial Income Statement For Manufacturing Company

A partial income statement is generally prepared by the company when there are certain or uncertain changes that affect the company s financial performance and is reported for only a part of the accounting period.

Partial income statement for manufacturing company. Cost of goods manufactured 147 800 goods available for sale 164 400 less. This statement reveals the company s revenues expenses and net profit or loss records for an accounting period. Finished goods inventory july 1 2012 cost of goods manufactured cost of goods available for sale less. Rainier company yakima company materials inventory.

B from the company s balance sheet at may 31. May 1 100 000 48 200 materials inventory. Finished goods inventory june 30 2013 cost of goods sold gross profit. The income statement of a manufacturing company is one of the most important financial statements of the company.

Partial income statement for manufacturing company morrison pet supplies company partial income statement for the year ended june 30 2013 sales revenues. As of the end of june the job cost sheets at racing wheels inc show the following. Accounting accounting manufacturing income statement statement of cost of goods manufactured several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of may. An audit revealed that in determining these amounts the ending inventory for 2013 was over stated by 20 000.

Finished goods inventory december 31 2015 18 400 cost of goods sold 146 000 13. Sales discounts net sales cost of goods sold. However a partial income. C this is actual manufacturing overhead for the period and includes indirect materials indirect labor factory rent factory utilities and other factory related.

Partial income statements for sherwood company summarized for a four year period show the following. Beck manufacturing partial income statement for year ended december 31 2015 cost of goods sold finished goods inventory december 31 2014 16 600 add. Finished goods inventory june 30 2013 cost of goods sold gross profit. Normally we prepare an income statement for a single month or for a year.

May 31 a 50 000 materials purchased 950 000 710 000. Finished goods inventory july 1 2012 cost of goods manufactured cost of goods available for sale less. Figure 1 7 income statement schedules for custom furniture company. A from the company s balance sheet at april 30 april 30 ending balance is the same as may 1 beginning balance.

Morrison pet supplies company partial income statement for the year ended june 30 2013 sales revenues. A complete set of financial statements for the last period of operations may be.