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URGENT! Please help me just find the costs of goods sold for both the Garcon Co & the Pepper Co. Required information [The following information
URGENT! Please help me just find the costs of goods sold for both the Garcon Co & the Pepper Co.
Required information [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company. $ Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company 12,800 16,600 11,300 33,250 21,200 18,050 28,000 7,500 10,800 12,400 32,000 2,350 6,860 34,000 54,400 199,530 24,000 282,500 14,400 Pepper Company $ 18,850 22,650 9,000 23,950 36,600 16,600 17,400 7,800 16,000 5,800 55,500 9,160 2,350 53,500 53,800 305, 010 22,700 115,825 21,200 Required: 1-a. Prepare income statements for both Garcon Company and Pepper Company. 1-b. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1A Garcon Req 1A Pepper Reg 1B Garcon Req 1B Pepper Prepare the income statement for Garcon Company. 199,530 GARCON COMPANY Income Statement For Year Ended December 31, 2017 Sales $ Less: Cost of goods sold Gross profit Operating expenses General and administrative expenses Selling expenses 199,530 32,000 54,400 Income (loss) before tax $ 113,130 Required: 1-a. Prepare income statements for both Garcon Company and Pepper Company. 1-b. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1A Garcon Req 1A Pepper Req 1B Garcon Req 1B Pepper Prepare the income statement for Pepper Company.... 305,010 PEPPER COMPANY Income Statement For Year Ended December 31, 2017 Sales $ Less: Cost of goods sold Gross profit Operating expenses General and administrative expenses Selling expenses 305,010 55,500 53,800 Income (loss) before tax $ 195,710Step by Step Solution
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