4. The following data is provided for Garcon Company and Pepper Company for the year ended December...
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4. The following data is provided for Garcon Company and Pepper Company for the year ended December 31.
Garcon Company | Pepper Company | |
---|---|---|
Finished goods inventory, beginning | $ 12,200 | $ 16,450 |
Work in process inventory, beginning | 17,700 | 22,950 |
Raw materials inventory, beginning | 10,000 | 14,100 |
Rental cost on factory equipment | 33,250 | 22,300 |
Direct labor | 20,400 | 38,200 |
Finished goods inventory, ending | 21,800 | 13,200 |
Work in process inventory, ending | 27,700 | 17,200 |
Raw materials inventory, ending | 7,300 | 9,200 |
Factory utilities | 12,150 | 13,000 |
General and administrative expenses | 25,500 | 57,500 |
Indirect labor | 12,350 | 15,620 |
RepairsFactory equipment | 6,260 | 3,550 |
Raw materials purchases | 41,500 | 65,500 |
Selling expenses | 57,200 | 48,700 |
Sales | 282,870 | 383,710 |
Cash | 27,000 | 17,700 |
Accounts receivable, net | 16,000 | 23,200 |
1.Prepare income statements for both Garcon Company and Pepper Company. 2.Prepare the current assets section of the balance sheet for each company.
Prepare the income statement for Pepper Company.
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