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Prepare the statement of comprehensive income for 2019.

Prepare the statement of comprehensive income for 2019.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter27: Manufacturing Accounting: The Work Sheet And Financial Statements
Section: Chapter Questions
Problem 6SPB: SPREADSHEET, ADJUSTING ENTRIES, AND FINANCIAL STATEMENTS Woods Companys trial balance columns from...
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The following account balances and other information were taken from the accounting records of Langga Corporation for the year ended Dec. 31, 2019. Use the information to prepare a schedule of manufacturing overhead costs, a manufacturing statement (show only the total overhead cost), and a statement of comprehensive income. Advertising Expense Amortization of Patents Uncollectible Accounts Expense P 85,000 16,000 28,000 37,000 133,000 78,000 250,000 62,000 74,000 21,000 Depreciation Expense-Office Equipment Depreciation Expense-Factory Building Depreciation Expense-Factory Equipment Direct Labor Factory Insurance Expense Factory Supervision Factory Supplies Expense Factory Utilities Finished Goods Inventory, Dec. 31, 2018 Finished Goods Inventory, Dec. 31, 2019 Work in Process Inventory, Dec. 31, 2018 Work in Process Inventory, Dec. 31, 2019 Indirect Labor 115,000 15,000 12,500 8,000 9,000 26,000 25,000 55,000 14,000 60,000 78,000 313,000 Interest Expense Miscellaneous Expenses Property Taxes-Factory Site Raw Materials Inventory, Dec. 31, 2018 Raw Materials Inventory, Dec. 31, 2019 Purchases-Raw Materials Repairs and Maintenance-Factory Equipment Salaries Expense 31,000 150,000 1,630,000 Sales Required: 4. Prepare the statement of comprehensive income for 2019. Chapter 8: Manufacturing Operations |
Transcribed Image Text:The following account balances and other information were taken from the accounting records of Langga Corporation for the year ended Dec. 31, 2019. Use the information to prepare a schedule of manufacturing overhead costs, a manufacturing statement (show only the total overhead cost), and a statement of comprehensive income. Advertising Expense Amortization of Patents Uncollectible Accounts Expense P 85,000 16,000 28,000 37,000 133,000 78,000 250,000 62,000 74,000 21,000 Depreciation Expense-Office Equipment Depreciation Expense-Factory Building Depreciation Expense-Factory Equipment Direct Labor Factory Insurance Expense Factory Supervision Factory Supplies Expense Factory Utilities Finished Goods Inventory, Dec. 31, 2018 Finished Goods Inventory, Dec. 31, 2019 Work in Process Inventory, Dec. 31, 2018 Work in Process Inventory, Dec. 31, 2019 Indirect Labor 115,000 15,000 12,500 8,000 9,000 26,000 25,000 55,000 14,000 60,000 78,000 313,000 Interest Expense Miscellaneous Expenses Property Taxes-Factory Site Raw Materials Inventory, Dec. 31, 2018 Raw Materials Inventory, Dec. 31, 2019 Purchases-Raw Materials Repairs and Maintenance-Factory Equipment Salaries Expense 31,000 150,000 1,630,000 Sales Required: 4. Prepare the statement of comprehensive income for 2019. Chapter 8: Manufacturing Operations |
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