The following data is provided for Garcon Company and Pepper Company for the year ended December...
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The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,100 17,900 11, 200 31,500 22,800 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 18,800 24,700 7,400 10,650 23,500 13,600 6,980 36,000 62,800 275,550 30,000 15,000 Pepper Company $ 17,650 20,400 10,350 24,850 41,000 16,500 17,600 8,400 14,250 53,000 14,020 1,900 61,500 57,400 392,230 20,700 21,700 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,100 17,900 11, 200 31,500 22,800 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 18,800 24,700 7,400 10,650 23,500 13,600 6,980 36,000 62,800 275,550 30,000 15,000 Pepper Company $ 17,650 20,400 10,350 24,850 41,000 16,500 17,600 8,400 14,250 53,000 14,020 1,900 61,500 57,400 392,230 20,700 21,700 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.
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Managerial Accounting
ISBN: 978-1260482935
7th edition
Authors: John J Wild, Ken W. Shaw, Barbara Chiappetta
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