Sales1,219,5901,108,700Cost of goods sold(d)717,330Gross profit(e)(e)Operating expenses158,860(f)Net income(f)246,130Required:1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.LetterOn CompanyOff Companyа.71,160$358,110b.630,480$343,700C.655,300d.648,6802$117,520570,910$991,180 xе.f.412,050$4745,050 xFeedbackV Check My Work1.a. The cost of direct materials used in production includes the beginning materials inventory plus purchases, less the ending materials inventory.b. Total manufacturing costs incurred during December include direct materials, direct labor, and factory overhead. Manufacturing Income Statement, Statement of Cost of Goods ManufacturedSeveral items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December:OnOffCompanyCompanyMaterials inventory, December 1$82,740$110,870Materials inventory, December 31(a)125,280Materials purchased210,160(a)Cost of direct materials used in production221,740(b)Direct labor311,930249,460Factory overhead96,810124,170Total manufacturing costs incurred in December(b)717,330Total manufacturing costs789,340789,340Work in process inventory, December 1158,860267,200Work in process inventory, December 31134,040(c)Cost of goods manufactured(c)710,680Finished goods inventory, December 1139,830124,170Finished goods inventory, December 31146,450(d)Sales1,219,5901,108,700Cost of goods sold(d)717,330Gross profit(e)(e)Operating expenses158,860(f)

Cost of goods sold means the cost incurred on the manufacturing or purchase of goods which has been…

Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company 71,160 V $ 358,110 а. b. 630,480 V 343,700 C. 655,300 V d. 648,680 V 117,520 V 570,910 V 991,180 X е. f. 412,050 $ 745,050 X Feedback V Check My Work

Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company 71,160 V $ 358,110 а. b. 630,480 V 343,700 C. 655,300 V d. 648,680 V 117,520 V 570,910 V 991,180 X е. f. 412,050 $ 745,050 X Feedback V Check My Work

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

らマ Document2 - Word O Search Jasmine Thompson 困 Design Layout References Mailings Review View Help A Share (Body) 12 - A A Aa v A E EE E E 2 T AaBbCcDd AaBbCcDd AaBbC AABBCCD AaB AaBbCcD AaBbCcDd AaBbCcDd O Find U - ab x, x A ev AvE 三三=|三、|么、田、 1 Normal 1 No Spac. Heading 1 Heading 2 c Replace Title Subtitle Subtle Em.. Emphasis A Select v Font Paragraph Styles Editing 1 2 3 4 6. When a corporation declares a cash dividend to preferred shareholders: a. total liabilities decrease b. net income decreases c. total assets increase d. total stockholders' equity remains unchanged e, total liabilities increase 7. A company began operations and purchased $5,000 of supplies, recording $5,00 Supplies account. By year-end, $3,250 was still on hand. The adjusting entry at yea would includo ao
E7-18, and E7-22
DS Ticket system My Dispense Academic Colendar My courses Discuss tha similaritios and difforences botwon financial statoment audits and operational audits. Give an example of oach type: (CLO 1) Paragraph BI Path: p Prse Inert Backspece Wome Enter 1Shift Cii
CengageNOWV2 | Online teachin x com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%-fa 6 New Tab 6 Cookie ps Account Debit Credit No. Balances Balances Cash 11 6,530 Accounts Receivable 12 2,100 Prepaid Expenses 13 700 Equipment 18 13,700 Accumulated Depreciation 19 1,100 Accounts Payable 21 1,900 Notes Payable 22 4,300 Bob Steely, Capital 31 12,940 Bob Steely, Drawing 32 790 Fees Earned 41 9,250 Wages Expense 51 2,500 Rent Expense 52 1,960 Utilities Expense 53 76ל Depreciation Expense 54 250 Miscellaneous Expense 185 Totals 29,490 29,490 Determine the total assets.
Multiple choice
How to solve this?
Do a JOURNAL ENTRY. Make sure they BALANCE Debit = Credit. Write it on word or excel. Thanks. please journalise all related transaction which is required for entry
AutoSave OFF Home Insert Draw Paste Page 47 of 95 Calibri B I U 20 Design V v 16916 words 50 ab X 2 V Layout X Α Α΄ A References Aa ▾ A Αν English (United States) Mailings = Review V V W= Packet Lecture-4 View 12/31 싫 V Accessibility: Investigate Tell me 30,000 V Estimating Uncollectible Accounts An estimate of bad debts is made at the end of the accounting period to match the cost of credit sales (bad debt expense) with the revenue credit sales allowed the company to record during the period. The estimate is incorporated in the company's books through an ADJUSTING ENTRY and the entry increases the allowance for uncollectible accounts and bad debt expense. Saved to my Mac ✓ Percent of Receivables Method (an allowance method) management estimates a percent of ending accounts receivable they expect to be uncollectible the ending balance of the Allowance for Uncollectible Accounts (AUA) is determined based on the estimate (% of uncollectible accounts x ending balance of A/R, "% of A/R").…
nal summ طم معلومات محاسبية نظري The revenue cycle consists of Select one: out of a. one subsystem-order entry b. two subsystems-sales order processing and cash receipts ag question C. two subsystems-order entry and inventory control O d. three subsystems-sales order processing, credit authorization, and cash receipts Previous page Jump to.. General
32) he correcting errors, adjusting and closing entries of the business are recorded in the form of ____________________. a. Purchases daybook b. Petty cash book c. General journal d. Cash payments book
Please dont provide solution in an image thanx
ITS-The Political S A M7: Assignment No.1 10201Ox/aMzlzNzk 1NTQxNDg2/details ВА.. e Home | Edmodo O Spoliarium by Juan.. w You searched for Re.. W Operating Performa... 1 Otn.docxlo. Open with Activity No.: Topic : The Worksheet Problems The following are all the steps in the accounting cycle. List them they should be done. 1. the order in which Closing entries are journalized and posted to the ledger. - An unadjusted trial balance is prepared. - An optional end-of-period spreadsheet (worksheet) is prepared. -A post-closing trial balance is prepared. - Adjusting entries are journalized and posted to the ledger. - Transactions are analyzed and recorded in the journal. Adjustment data are assembled and analyzed. -Financial statements are prepared An adjusted trial balance is prepared Transactions are posted to the ledger 2. 7. 8. 6. 10 The balances for the accounts listed below appeared in the Adjusted Tral Balance columns of the work the Income Statement columns or iobtndicato ther cach…