Question
Accounts Receivable $ 275,000 Advertising Expenses 54,000 Cash 260,000 DepreciationFactory Equipment 16,800 DepreciationOffice Equipment 2,400 Direct Labor 42,000 Factory Supplies Used 16,800 Factory Utilities 10,200
Accounts Receivable | $ 275,000 |
Advertising Expenses | 54,000 |
Cash | 260,000 |
DepreciationFactory Equipment | 16,800 |
DepreciationOffice Equipment | 2,400 |
Direct Labor | 42,000 |
Factory Supplies Used | 16,800 |
Factory Utilities | 10,200 |
Finished Goods Inventory, November 30 | 68,800 |
Finished Goods Inventory, October 31 | 72,550 |
Indirect Labor | 48,000 |
Office Supplies Expense | 1,600 |
Other Administrative Expenses | 72,000 |
Prepaid Expenses | 41,250 |
Raw Materials Inventory, November 30 | 52,700 |
Raw Materials Inventory, October 31 | 38,000 |
Raw Materials Purchases | 184,500 |
RentFactory Equipment | 47,000 |
RepairsFactory Equipment | 4,500 |
Salaries | 325,000 |
Sales | 1,350,000 |
Sales Commissions | 40,500 |
Work In Process Inventory October 31 | 52,700 |
Work In Process Inventory, November 30 | 42,000 |
Instructions
(a) A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured schedule, an income statement, and the current assets section of the balance sheet for Waterways Corporation for the month of November 2012.
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