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Required information Skip to question [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company
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[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.
Garcon Company | Pepper Company | |
---|---|---|
Finished goods inventory, beginning | $ 13,600 | $ 19,750 |
Work in process inventory, beginning | 16,600 | 19,500 |
Raw materials inventory, beginning | 8,500 | 11,850 |
Rental cost on factory equipment | 31,750 | 26,350 |
Direct labor | 20,800 | 39,400 |
Finished goods inventory, ending | 18,950 | 17,000 |
Work in process inventory, ending | 25,900 | 18,200 |
Raw materials inventory, ending | 6,300 | 8,000 |
Factory utilities | 14,550 | 18,000 |
General and administrative expenses | 25,500 | 53,500 |
Indirect labor | 15,450 | 12,600 |
RepairsFactory equipment | 4,940 | 2,850 |
Raw materials purchases | 39,000 | 52,000 |
Selling expenses | 53,200 | 52,900 |
Sales | 294,300 | 392,230 |
Cash | 29,000 | 21,700 |
Accounts receivable, net | 15,800 | 23,450 |
1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.
Required information [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. Garcon Company Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Labor Finished *** goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net $ 13,600 16,600 10,000 8,500 31,750 20,800 40 18,950 25,900 2 0:00 6,300 14,550 25,500 00 15,450 4,940 4,990 39,000 53,200 294, 300 29,000 15,800 Pepper Company $ 19,750 19,500 ve 11,850 26, 350 2011 39,400 39:40 17,000 16 18, 200 10:40 8,000 - 18,000 53,500 12,600 000 2,850 2008 52,000 52,900 392, 230 21,700 23,450 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 $ 0 Reg 1 Garcon Req 1 Pepper > Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 Net income $ 0 RAC1.Garcon Rea 2 Garcon Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0Step by Step Solution
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