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I have been trying to figure out why this is showing as incomplete. I tried even just going down the list of options one at
I have been trying to figure out why this is showing as incomplete. I tried even just going down the list of options one at a time to see why this answer is incomplete, but they were all wrong. Please help before I chunk my computer at my professor!!
Exercise 1-8 (Static) Preparing financial statements for a manufacturer LO P1 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. Answer is not complete. Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. \begin{tabular}{|l|r|r|} \hline \multicolumn{3}{|c|}{ GARCON COMPANY } \\ \hline \multicolumn{2}{|c|}{ Balance Sheet-Current Assets Section } \\ \hline \multicolumn{2}{|c|}{ December 31 } & \\ \hline Cash & $ & 20,000 \\ \hline Accounts receivable, net & & 13,200 \\ \hline Raw materials inventory & & 5,300 \\ \hline Work in process inventory & & 22,000 \\ \hline Finished goods inventory & & 17,650 \\ \hline & \\ \hline & \\ \hline Total current assets & $ & 78,150 \\ \hline \hline \end{tabular} \begin{tabular}{|l|c|c|} \hline \multicolumn{3}{|c|}{ PEPPER COMPANY } \\ \hline \multicolumn{2}{|c|}{ Balance Sheet-Current Assets Section } \\ \hline \multicolumn{2}{|c|}{ December 31 } \\ \hline Cash & $ & 15,700 \\ \hline Accounts receivable, net & & 19,450 \\ \hline Raw materials inventory & & 7,200 \\ \hline Work in process inventory & & 16,000 \\ \hline Finished goods inventory & & 13,300 \\ \hline & \\ \hline & & \\ \hline Total current assets & $ & 71,650 \\ \hline \hline \end{tabular}Step by Step Solution
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