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need help on questions 2-6. thank you? D 270 000) 200000 200,000) 200 000 d 25.000) 125 000 e 20,000) 200001 600 000 600 000
need help on questions 2-6. thank you?
D 270 000) 200000 200,000) 200 000 d 25.000) 125 000 e 20,000) 200001 600 000 600 000 16000000 600,000 455,000) 45.0000 455.000 5000) 3000000 000) 30 000 30 000 000 23 000 600 52000 2E see transaction details on p.2 May Company Balance sheet a 12/31/2016 1/1/2016-12/31/2016 Income statement 49 572.000) 270.000 28,000 Net income 210000 accum depr) 390.000 May Company 27.000 Income statement 1/1/2016-12/31/2016 Total assets 600.000 Sales revenue 455,000) Cost of goods sold 45.000 Gross profit (30,000 Selling expense Retained ea expense Inventory holding expense 4000 728 Total equity 28 Transactions a, Paid $270.000 to purchase manufacturing machine. for purchased manufacturing machine. (salvage value $30.000, 4 year Recognized 1 year's depreciation materials of 40/unit. c. Started and completed 5.000 units Purchased and used direct Direct labor costs amounted to S25 unit e. Cost of manufacturing supplies used amounted to 4/unit. Paid $50,000 to rent the manufacturing facility. sales. Sold all 5.000 units at cash price of $120/unit. recognized h For the 5,000 units sold recognized cost of goods sold Paid $6/unit of sales commission to sales staff. Paid $39.000 to purchase equipment for administrative offices. 3 year life) k Recognized 1 year's depreciation for purchased administrative equipment. (salvage value $3000, Paid office rent and salaries expenses of $71,000. rent of warehouse space paid $4,000 for Step by Step Solution
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