ook lint rint rences Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Raw materials inventory, beginning Cost of goods sold: Cash Gross profit Accounts receivable, net Cash Accounts receivable, net Net income Cost of goods manufactured Goods available for sale Add: Finished goods inventory, beginning Cost of goods sold 0 $0 0 ook int rint rences 3 Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Raw materials inventory, beginning Cost of goods sold: Cash
ook lint rint rences Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Raw materials inventory, beginning Cost of goods sold: Cash Gross profit Accounts receivable, net Cash Accounts receivable, net Net income Cost of goods manufactured Goods available for sale Add: Finished goods inventory, beginning Cost of goods sold 0 $0 0 ook int rint rences 3 Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Raw materials inventory, beginning Cost of goods sold: Cash
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please do not give solution in image format ? And Fast answering please and explain proper steps by Step.
![Required information
[The following information applies to the questions displayed below.]
The following data is provided for Garcon Company and Pepper Company for the year ended Decemb
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
Show Transcribed Text
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
Garcon
Company
$ 12,000
14,500
7,250
27,000
19,000
Selling expenses
Sales
Cash
Accounts receivable, net
17,650
22,000
5,300
9,000
21,000
9,450
4,780
33,000
50,000
195,030
20,000
13,200
Required information
[The following information applies to the questions displayed below.]
The following data is provided for Garcon Company and Pepper Company for the year ended Decemb
Garcon
Company
$ 12,000
14,500
7,250
27,000
19,000
17,650
22,000
5,300
9,000
Pepper
Company
$ 16,450
19,950
9,000
21,000
9,450
4,780
33,000
50,000
195,030
20,000
13,200
22,750
35,000
13,300
16,000
7,200
12,000
43,000
10,860
1,500
52,000
46,000
290,010
15,700
19,450
Pepper
Company
$ 16,450
19,950
9,000
22,750
35,000
13,300
16,000
7,200
12,000
43,000
10,860
1,500
52,000
46,000
290,010
15,700
19,450](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0cfa4f04-40a2-41f3-8662-9f69080778f5%2Fee4c62ca-852b-4df9-be74-c0c48f9a4f02%2F6b4qhb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
The following data is provided for Garcon Company and Pepper Company for the year ended Decemb
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
Show Transcribed Text
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
Garcon
Company
$ 12,000
14,500
7,250
27,000
19,000
Selling expenses
Sales
Cash
Accounts receivable, net
17,650
22,000
5,300
9,000
21,000
9,450
4,780
33,000
50,000
195,030
20,000
13,200
Required information
[The following information applies to the questions displayed below.]
The following data is provided for Garcon Company and Pepper Company for the year ended Decemb
Garcon
Company
$ 12,000
14,500
7,250
27,000
19,000
17,650
22,000
5,300
9,000
Pepper
Company
$ 16,450
19,950
9,000
21,000
9,450
4,780
33,000
50,000
195,030
20,000
13,200
22,750
35,000
13,300
16,000
7,200
12,000
43,000
10,860
1,500
52,000
46,000
290,010
15,700
19,450
Pepper
Company
$ 16,450
19,950
9,000
22,750
35,000
13,300
16,000
7,200
12,000
43,000
10,860
1,500
52,000
46,000
290,010
15,700
19,450

Transcribed Image Text:ook lint rint rences Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year
Ended December 31 Raw materials inventory, beginning Cost of goods sold: Cash Gross profit Accounts receivable, net
Cash Accounts receivable, net Net income Cost of goods manufactured Goods available for sale Add: Finished goods
inventory, beginning Cost of goods sold 0 $0 0
Jook
int
rint
rences
Prepare the income statement for Garcon Company.
c
GARCON COMPANY
Income Statement
Raw materials inventory, beginning
Cost of goods sold:
Cash
Gross profit
Accounts receivable, net
Cash
Accounts receivable, net
Net income
For Year Ended December 31
Cost of goods manufactured
Goods available for sale
Add: Finished goods inventory, beginning
Cost of goods sold
0
$
0
0
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