The trial balance of the Bonnard Manufacturing Corporation as of December 31 of this year is shown here.

You are given the following information for the adjustments:
a.-f. Year-end inventories: raw materials, $42,700; work-in-process, $64,200;
finished goods, $70,350.
g. Estimated depreciation of factory machinery, $9,250.
h. A study of the company’s insurance policies shows that $1,550 of factory insurance expired during the year.
i. Allowance for Doubtful Accounts is to be increased by $775 (debit General Expenses [control]).
j. Accrued direct labor, $360; accrued indirect labor, $120; accrued sales commissions, $140 (credit Wages and Commissions Payable).
k. Ending factory supplies inventory, $1,100.
l. Additional income tax, $1,160.

Instructions Check Figure Cost of goods manufactured, 1. Prepare a work sheet. $410 450 2. Prepare a statement of cost of goods manufactured.
3. Prepare an income statement.

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Bonnard Manufacturing Corporation Trial Balance December 31, 19- Cashi ACCOUNT NAME Accounts Receivable Allowance for Doubtful Accounts Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory Prepaid Factory Insurance Factory Supplies Machinery Accumulated Depreciation, Machinery Accounts Payable Common Stock Paid-in Capital in Excess of Stated Value Retained Earnings Sales Raw Materials Purchases. Direct Labor Indirect Labor Heat, Light, and Power Machinery Repairs Selling Expenses (control) General Expenses (control) Income Tax Expense DEBIT CREDIT 435000 3470000 135000 4580000 7105000 6920000 210000 300000 8550000 6995000 2106 4000 8073000 1620000 980000 1417 1000 59375 00 400000 4320000 27450 00 100 000 00 25 000 00 65405 00 645 700 00 908 10500 908 105 00