Required Information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Total current assets $ 14,900 18,000 9,800 34,250 24, 200 17,300 26,200 7,200 13,650 $ 23,500 15,000 7,588 41,500 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 0 61,600 298,670 28,000 14,400 Complete this question by entering your answers in the tabs below. < Req 1 Pepper Pepper Company $ 16,750 23,250 12,750 22,300 44,200 15,400 17,200 8,600 17,758 55,500 12,940 2,150 57,500 55,600 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 380,610 22, 200 20,700 Req 2 Pepper >
Required Information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Total current assets $ 14,900 18,000 9,800 34,250 24, 200 17,300 26,200 7,200 13,650 $ 23,500 15,000 7,588 41,500 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 0 61,600 298,670 28,000 14,400 Complete this question by entering your answers in the tabs below. < Req 1 Pepper Pepper Company $ 16,750 23,250 12,750 22,300 44,200 15,400 17,200 8,600 17,758 55,500 12,940 2,150 57,500 55,600 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 380,610 22, 200 20,700 Req 2 Pepper >
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...
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Step 1: Introduction of Income statement:
VIEWStep 2: Preparation of Income statement of GARGON COMPANY:
VIEWStep 3: Preparation of Income statement PEPPER COMPANY:
VIEWStep 4: Preparation of current asset section of GARGON COMPANY:
VIEWStep 5: Preparation of current asset section of PEPPER COMPANY:
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