Business, 28.01.2020 07:31, hala201490
University company produces collegiate apparel. from its accounting records, it prepares the following schedule and financial statements on a yearly basis.
(a) cost of goods manufactured schedule.
(b) income statement.
(c) balance sheet.
the following items are found in its ledger and accompanying data.
for each item, indicate the schedule and/or financial statement(s) in which the item will appear.
1. direct labor
balance sheetcost of goods manufactured schedule and balance sheetincome statement and balance sheetcost of goods manufactured schedulecost of goods manufactured schedule and income statementincome statement
2. raw materials inventory, 1/1
income statement and balance sheetbalance sheetcost of goods manufactured schedulecost of goods manufactured schedule and balance sheetcost of goods manufactured schedule and income statementincome statement
3. work in process inventory, 12/31
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4. finished goods inventory, 1/1
income statement and balance sheetcost of goods manufactured schedule and balance sheetcost of goods manufactured schedulecost of goods manufactured schedule and income statementbalance sheetincome statement
5. indirect labor
cost of goods manufactured schedule and income statementcost of goods manufactured schedule and balance sheetcost of goods manufactured scheduleincome statement and balance sheetincome statementbalance sheet
6. depreciation on factory machinery
balance sheetincome statementcost of goods manufactured schedule and balance sheetincome statement and balance sheetcost of goods manufactured schedule and income statementcost of goods manufactured schedule
7. work in process, 1/1
income statement and balance sheetcost of goods manufactured schedule and income statementcost of goods manufactured schedule and balance sheetincome statementcost of goods manufactured schedulebalance sheet
8. finished goods inventory, 12/31
income statementcost of goods manufactured schedule and balance sheetincome statement and balance sheetcost of goods manufactured schedule and income statementcost of goods manufactured schedulebalance sheet
9. factory maintenance salaries
cost of goods manufactured schedule and income statementbalance sheetcost of goods manufactured schedulecost of goods manufactured schedule and balance sheetincome statementincome statement and balance sheet
10. cost of goods manufactured
cost of goods manufactured schedule and income statementcost of goods manufactured schedule and balance sheetcost of goods manufactured schedulebalance sheetincome statement and balance sheetincome statement
11. depreciation on delivery equipment
cost of goods manufactured schedule and balance sheetcost of goods manufactured scheduleincome statementbalance sheetincome statement and balance sheetcost of goods manufactured schedule and income statement
12. cost of goods available for sale
income statement and balance sheetcost of goods manufactured schedule and income statementcost of goods manufactured scheduleincome statementcost of goods manufactured schedule and balance sheetbalance sheet
13. direct materials used
cost of goods manufactured scheduleincome statementcost of goods manufactured schedule and income statementbalance sheetcost of goods manufactured schedule and balance sheetincome statement and balance sheet
14. heat and electricity for factory
balance sheetcost of goods manufactured scheduleincome statementcost of goods manufactured schedule and balance sheetincome statement and balance sheetcost of goods manufactured schedule and income statement
15. repairs to roof of factory building
cost of goods manufactured schedule and balance sheetcost of goods manufactured schedule and income statementcost of goods manufactured scheduleincome statementbalance sheetincome statement and balance sheet
16. cost of raw materials purchases
cost of goods manufactured schedule and income statementcost of goods manufactured schedulecost of goods manufactured schedule and balance sheetincome statementbalance sheetincome statement and balance sheet
Answers: 3
Business, 21.06.2019 14:40, LlayahHarbin
Which one of the following is a characteristic of a jit partnership? a. frequent deliveries in large lot quantities b. removal of incoming inspection c. third-party logistics never used d. maximal product specifications imposed on supplier e. active pursuit of vertical integration
Answers: 3
Business, 22.06.2019 00:00, koolja3
Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)
Answers: 2
Business, 22.06.2019 09:00, nadiarose6345
Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?
Answers: 2
Business, 22.06.2019 17:30, gghkooo1987
An essential element of being receptive to messages is to have an open mind true or false
Answers: 2
University company produces collegiate apparel. from its accounting records, it prepares the followi...
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