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I have found all of the other answers but for some reason I cannot find the Finished Goods Inventory section. I have tried multiple different
I have found all of the other answers but for some reason I cannot find the "Finished Goods Inventory" section. I have tried multiple different ways but cannot get the answer. can someone help me?
Required information Problem 10-26A (Algo) Service versus manufacturing companies LO 10.4 [The following information applies to the questions displayed below] Rundie Company began operations on January 1, Year 1 , by issuing common stock for $34,000 cash. During Year 1, Rundle received $49.100 cash from revenue and incurred costs that required $38.100 of cash payments. Problem 10-26A (Algo) Part c Prepare a GAAP-based income statement and balance sheet for Rundle Company for Year 1 under the following scenario c. Rundle is a manufacturing company. The $38100 was paid to purchase the following items: (1) Paid $3,100 cash to purchase materials that were used to make products during the year. (2) Paid \$2,000 cash for wages of factory workers who made products during the year. (3) Paid $18,300 cash for salaries of sales and administrative employees. (4) Paid \$14,700 cash to purchase manufacturing equipment. The equipment was used solely to make products it had a three-year ife and a $2.400 salvage value. The company uses straight line depreciation (5) During Year 1, Rundle started and completed 2,300 units of product. The revenue was earned when Rundle sold 1,900 units of product to its customers Complete this question by entering your answer in the tabs below. Prepare a balance sheet. Note: Amounts to be deducted should be indicated with a minus sign. Do not round your intermediate calculations Step by Step Solution
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