Check my won Comprehensive Problem (Algo) LO 11-1, 11-2, 11-3, 11-4 Benson Modems, Inc. acquired a subsidiary named Anywhere, Inc. (AI). Al manufactures a wireless modem that enables users to access the Internet through cell phones. The following trial balance was drawn from the accounts of the subsidiary. Cash Raw materials inventory Work in process inventory Finished goods Inventory Common stock Retained earnings Totals $181,400 3,630 5,450 6.360 $117,020 79,820 $196,840 $196,840 The subsidiary completed the following transactions during Year 2 1. Paid $54430 cash for direct raw materials 2. Transferred $45,360 of direct raw materials to work in process 3. Paid production employees $72,580 cash 4. Applied S48090 of manufacturing overhead costs to work in process 5. Completed work on products that cost $147,900 6. Sold products that cont $129,750 for $165.140 cash. Record the recognition of revenue in a row labeled 6a and the cost of goods sold in a row labeled 6b 7. Pald 518.350 cash for selling and administrative expenses 8 Actual overhead costs paid in cash amounted to $49,910 Closed the Manufacturing Overhead account. The amount of over or underapplied overhead was insignificant immaterial 10. Made a $4.530 cash distribution to the owners. Required a. For Anywhere, Inc record the events in a financial statements model. The first event is shown as an example b. Prepare a schedule of cost of goods manufactured and sold c. Prepare an income statement and a balance sheet Check my work uired For Anywhere, Inc., record the events in a financial statements model. The first event is shown as an example Prepare a schedule of cost of goods manufactured and sold Prepare an income statement and a balance sheet Complete this question by entering your answers in the tabs below. Rego Regine Reg Bai Samt Sheet For Anywhere, Inc, record the events in a financial statements model. The first event is shown as an example (Inter decreases to account balances with me on Balance Sheet Income Statement Ant Epe Net income En Cash Manufacturing Purw Work in Finished Common Retained Overhead Materials Proce Goods Stock Bed 510140 5 3,30 5.450 6.360 5 117,020 - 70.6.20 Revenue 1 $ 1 . . . 4 . . 5 be + . . + + - - . NO 1400 3. 1 11.400 $17.00 0 Req A Req B Reg C Inc Stmt Reg C Bal Sheet Prepare a schedule of cost of goods manufactured and sold. ANYWHERE, INC. Schedule of Cost of Goods Manufactured and Sold For Year Ended December, 31 Year 2 Raw materials available for use 0 Direct raw materials used Total manufacturing costs 0 Total work in process inventory 0 Cont of goods manufactured 0 Cost of goods available for sale 0 Cost of goods sold 5 RA fine me > For Anywhere, Inc., record the events in a financial statements model. The first event is shown as an example. - Prepare a schedule of cost of goods manufactured and sold. . Prepare an income statement and a balance sheet. Complete this question by entering your answers in the tabs below. Req A Req B Reg C Inc Stmt Req C Bal Sheet Prepare an income statement. ANYWHERE, INC. Income Statement For Yoar Ended December 31, Year 2 0 $ 0 Heu Red Bal Sheet a. For Anywhere, Inc., record the events in a financial statements model. The first event is shown as an example. b. Prepare a schedule of cost of goods manufact and sold. c. Prepare an income statement and a balance sheet. Complete this question by entering your answers in the tabs below. Reg C Inc Stmt Reg ReqB Prepare a balance sheet. Reg C Bal Sheet ANYWHERE, INC Balance Sheet December 31, Year 2 Assets 0 Total assets Stockholders' equity Total stockholders' equity $ 0 Cine
