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Finding unknown amounts. An auditor for the Internal Revenue Service is trying to reconstruct some partially destroyed records of two taxpayers. For each of the
Finding unknown amounts. An auditor for the Internal Revenue Service is trying to reconstruct some partially destroyed records of two taxpayers. For each of the cases in the accompanying list, find the unknowns designated by the letters A through D.
2 Finding unknown amounts. An auditor for the Internal Revenue Service is trying to recons partially destroyed records of two taxpayers. For each of the cases in the accompanying list, fin owns designated by the letters A through D. Case 1 Case 2 (in thousands) Accounts receivable, 12/31 Cost of goods sold Accounts payable, 1/1 Accounts payable, 12/31 Finished goods inventory, 12/31 Gross margin Work-in-process inventory, 1/1 Work-in-process inventory, 12/31 Finished goods inventory, 1/1 Direct materials used Direct manufacturing labor Manufacturing overhead costs Purchases of direct materials Revenues Accounts receivable, 1/1 $ 6,000 A 3,000 1,800 B 11,300 0 0 4,000 8,000 3,000 7,000 9,000 32,000 2,000 $ 2,100 20,000 1,700 1,500 5,300 800 3,000 4,000 12,000 5,000 D 7,000 31,800 1,400
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