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The following data is provided for Garcon Company and Pepper Company for the year ended December 3 1 . The following data is provided for

The following data is provided for Garcon Company and Pepper Company for the year ended December 31.The following data is provided for Garcon Company and Pepper Company for the year ended December 31.
Exercise 14-8(Algo) Preparing financial statements for a manufacturer LO P1
Prepare income statements for both Garcon Company and Pepper Company.
Prepare the current assets section of the balance sheet for each company.
Complete this question by entering your answers in the tabs below.
Finished goods inventory, beginning
Work in process inventory, beginning
Raw materials inventory, beginning
Garcon
Company $ 13,200
Pepper Company
$ 16,000
17,100
22,500
8,300
13,500
31,500
23,050
Direct labor
21,000
41,000
Finished goods inventory, ending
19,10025,600
16,600
Work in process inventory, ending
21,600
Raw materials inventory, ending
7,000
9,200
Factory utilities
11,700
14,25060,000
General and administrative expenses
27,000
Indirect labor
14,800
13,200
Repairs-Factory equipment Raw materials purchases
6,020
3,650
35,500
67,500
Selling expenses
63,200273,300
46,900
Sales
Cash
387,560
Accounts receivable, net
22,000
21,700
14,600
22,700
Exercise 14-8(Algo) 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.
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 Pepper Company.
PEPPER COMPANY
Balance Sheet-Current Assets Section
December 31
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