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I have already posted this question once today. It was not answered correctly and I need it tonight for my homework. Please help. The question

I have already posted this question once today. It was not answered correctly and I need it tonight for my homework. Please help. The question is attached to this post. Thank you in advance.

image text in transcribed Slattery Company was formed on January 1, 2013, to build a single product. The company issued no-par common stock on that date for $360,000 cash. The product costs $18 to make, all of which is paid in cash at the time of production. Slattery sells each unit of the product for $38 on credit and incurs sales commissions per unit of $4 cash. In 2013, Slattery produced 8,000 units, shipped 6,000 units, and received payment for 3,000 units. Required: Hide 1a. Prepare the 2013 income statement under revenue recognition at the completion of the earnings process. SLATTERY COMPANY Income Statement For Year Ended December 31, 2013 $ Revenue Cost of goods sold Selling expense $ Net Income Hide Feedback Correct Hide Prepare the 2013 ending balance sheet under revenue recognition at the completion of the earnings process. SLATTERY COMPANY Balance Sheet December 31, 2013 $ Cash Accounts receivable Inventory $ $ Common stock, no par Retained earnings $ Hide Feedback Partially Correct Hide 1b. Prepare the 2013 income statement under revenue recognition prior to the completion of the earnings process. SLATTERY COMPANY Income Statement For Year Ended December 31, 2013 Revenue $ Production expense Selling expense Net Income $ Hide Feedback Partially Correct Hide Prepare the 2013 ending balance sheet under revenue recognition prior to the completion of the earnings process. SLATTERY COMPANY Balance Sheet December 31, 2013 $ Cash Accounts receivable Inventory $ Accrued selling expenses $ Common stock, no par Retained earnings $ Hide Feedback Hide c. Prepare the 2013 income statement under revenue recognition at the completion of the earnings process as cash SLATTERY COMPANY Income Statement For Year Ended December 31, 2013 Revenue $ Cost of goods sold Selling expense Net Income $ Hide Prepare the 2013 ending balance sheet under revenue recognition at the completion of the earnings process as cash SLATTERY COMPANY Balance Sheet December 31, 2013 $ Cash Prepaid selling expenses Inventory $ Common stock, no par $ Retained earnings $

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