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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
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 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct 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 Garcon Company $ 13,800 14,800 9,500 29,250 24,200 21,050 25,000 7,500 10,500 33,000 14,800 6,140 33,500 54,400 273, 390 33,000 17,000 Pepper Company $ 16,900 23,550 13,050 24,550 44,200 15,500 18,600 9,000 13,250 43,500 13,420 1,950 52,500 51,700 396,860 16,200 23,700 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. Reg 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Required information Complete this question by entering your answers in the tabs below. Req i Garcon Req 1 Pepper Reg 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 Ren Cancer Req 1 Pepper > 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 Cost of goods sold Net income Req 1 Garcon Reg 1 Pepper Req 2 Grcon Reg 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 S 0 Reg 1 Garcon Req 1 Pepper Req 2 Garcon Req Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0
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