The following data is provided by Naseer Textile. Jan, 01 Rs. 88,000 29,000 54,000 Dec, 31 Rs.63,000 38,000 65,000 Inventories: Material Work in process Finished goods Additional information: Rs.5.000,000 360,000 8,000 468,000 355,000 Building- Material purchased Sales discounts Factory overheads paid Marketing and Admin Expense paid Depreciation 5% (80% manufacturing, 20% marketing & Admin) Sales Direct factory payroll Indirect factory payroll Office payroll Freight in Freight out Interest on Bond Payable Income tax 1,845,000 500,000 100,000 150,000 6,500 5,000 15,000 35% Required: Prenare income statement

The following data is provided by Naseer Textile. Jan, 01 Rs. 88,000 29,000 54,000 Dec, 31 Rs.63,000 38,000 65,000 Inventories: Material Work in process Finished goods Additional information: Rs.5.000,000 360,000 8,000 468,000 355,000 Building- Material purchased Sales discounts Factory overheads paid Marketing and Admin Expense paid Depreciation 5% (80% manufacturing, 20% marketing & Admin) Sales Direct factory payroll Indirect factory payroll Office payroll Freight in Freight out Interest on Bond Payable Income tax 1,845,000 500,000 100,000 150,000 6,500 5,000 15,000 35% Required: Prenare income statement

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 1.7C

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