Problem 1-16: Statement of Cost of Goods Sold Jenna Company has provided the following data concerning its opera- tions for the year ended December 31, 2018: Raw materials on hand, December 31 Work in process, December 31 Finished goods, December 31 Factory supplies on hand, December 31 Sales Factory maintenance Administrative salaries Discounts on raw materials purchases Delivery expenses Interest income Factory supplies used Common stock (P10 par value) Retained earnings Trade accounts payable Accumulated depreciation-factory building and equipment Building and equipment Trade accounts receivable Cash Finished goods, January 1, 2018 Direct labor Bad debt expense Factory power and heat Advertising Insurance expired-factory building and equipment Work in process, January 1, 2018 Depreciation-factory building and equipment Factory superintendence Interest expense Raw materials purchased Indirect factory labor Sales returns Sales discounts P 24,000 30,000 40,000 14,000 1,100,000 38,400 108,000 4,200 16,000 1,000 22,400 2,000,000 525,000 273,500 47,500 500,000 450,000 170,000 37,500 180,000 2,500 19,400 8,400 4,800 84,000 17,500 100,000 1,500 400,000 20,000 2,200 1,300

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Chapter1: Financial Statements And Business Decisions
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Prepare unadjusted trial balance 

Cos
Cost Cycle
Problem 1-16: Statement of Cost of Goods Sold
Jenna Company has provided the following data concerning its opera.
tions for the year ended December 31, 2018:
Raw materials on hand, December 31
Work in process, December 31
Finished goods, December 31
Factory supplies on hand, December 31
Sales
Factory maintenance
Administrative salaries
Discounts on raw materials purchases
Delivery expenses
Interest income
Factory supplies used
Common stock (P10 par value)
Retained earnings
Trade accounts payable
Accumulated depreciation-factory building and equipment
Building and equipment
Trade accounts receivable
Cash
Finished goods, January 1, 2018
Direct labor
Bad debt expense
Factory power and heat
Advertising
Insurance expired-factory building and equipment
Work in process, January 1, 2018
Depreciation-factory building and equipment
Factory superintendence
Interest expense
Raw materials purchased
Indirect factory labor
Sales returns
Sales discounts
75
P 24,000
30,000
40,000
14,000
1,100,000
38,400
108,000
4,200
16,000
1,000
22,400
2,000,000
525,000
273,500
47,500
500,000
450,000
170,000
37,500
180,000
2,500
19,400
8,400
4,800
84,000
17,500
100,000
1,500
400,000
20,000
2,200
1,300
Transcribed Image Text:Cos Cost Cycle Problem 1-16: Statement of Cost of Goods Sold Jenna Company has provided the following data concerning its opera. tions for the year ended December 31, 2018: Raw materials on hand, December 31 Work in process, December 31 Finished goods, December 31 Factory supplies on hand, December 31 Sales Factory maintenance Administrative salaries Discounts on raw materials purchases Delivery expenses Interest income Factory supplies used Common stock (P10 par value) Retained earnings Trade accounts payable Accumulated depreciation-factory building and equipment Building and equipment Trade accounts receivable Cash Finished goods, January 1, 2018 Direct labor Bad debt expense Factory power and heat Advertising Insurance expired-factory building and equipment Work in process, January 1, 2018 Depreciation-factory building and equipment Factory superintendence Interest expense Raw materials purchased Indirect factory labor Sales returns Sales discounts 75 P 24,000 30,000 40,000 14,000 1,100,000 38,400 108,000 4,200 16,000 1,000 22,400 2,000,000 525,000 273,500 47,500 500,000 450,000 170,000 37,500 180,000 2,500 19,400 8,400 4,800 84,000 17,500 100,000 1,500 400,000 20,000 2,200 1,300
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