Selected data for three companies are given below. All inventory amounts are ending balances. Company X...

 

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Selected data for three companies are given below. All inventory amounts are ending balances. Company X Accounts Receivable Administrative Expenses Cash Cost of Goods Sold Equipment Merchandise Inventory Sales Revenue Sellilng Expenses Company Y Accounts Receivable 11,200 Cash 7,350 47,800 7,000 35,700 2,400 10,300 Equipment Rent Expense Service Revenue Utilities Expense Wages Expense Company Z Accounts Receivable Administrative Expenses Cash Cost of Goods Manufactured Cost of Goods Sold Equipment Finished Goods Invetory Raw Materials Inventory Sales Revenue Selling Expenses Work-in-Process Inventory Company X Type of Company Using the data above, indentify each company as a Service Company, ivierchandising Company, or Manufacturing Company and complete an Income Statement for each company. Company Y 16,600 15,700 28,000 45,400 52,800 8,300 93,400 20,600 Type of Company Company Z Type of Company Submit All Parts 26,100 41,100 26,000 108,800 98,600 259,000 10,500 9,300 222,400 50,100 5,300 Company X Income Statement Company Y Income Statement Company Z Income Statement Selected data for three companies are given below. All inventory amounts are ending balances. Company X Accounts Receivable Administrative Expenses Cash Cost of Goods Sold Equipment Merchandise Inventory Sales Revenue Sellilng Expenses Company Y Accounts Receivable 11,200 Cash 7,350 47,800 7,000 35,700 2,400 10,300 Equipment Rent Expense Service Revenue Utilities Expense Wages Expense Company Z Accounts Receivable Administrative Expenses Cash Cost of Goods Manufactured Cost of Goods Sold Equipment Finished Goods Invetory Raw Materials Inventory Sales Revenue Selling Expenses Work-in-Process Inventory Company X Type of Company Using the data above, indentify each company as a Service Company, ivierchandising Company, or Manufacturing Company and complete an Income Statement for each company. Company Y 16,600 15,700 28,000 45,400 52,800 8,300 93,400 20,600 Type of Company Company Z Type of Company Submit All Parts 26,100 41,100 26,000 108,800 98,600 259,000 10,500 9,300 222,400 50,100 5,300 Company X Income Statement Company Y Income Statement Company Z Income Statement

Answer rating: 100% (QA)

Based on the information provided we can identify the type of company for each of the three companie... View the full answer