QUESTION 14 Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter: Job No. 356 Job No. 357 Job No. 358 Job No. 359 Job No. 360 Balance $ 450 1,235 378 689 456 Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job. What is the ending balance of Work in Process for Adams Company at the end of the first quarter? a. $3,208 b. $0 C. $456 d. $2,752
QUESTION 14 Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter: Job No. 356 Job No. 357 Job No. 358 Job No. 359 Job No. 360 Balance $ 450 1,235 378 689 456 Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job. What is the ending balance of Work in Process for Adams Company at the end of the first quarter? a. $3,208 b. $0 C. $456 d. $2,752
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![QUESTION 14
Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a
list of all the jobs for the quarter:
Job No. 356
Job No. 357
Job No. 358
Job No. 359
Job No. 360
Balance
$ 450
1,235
378
689
456
Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job.
What is the ending balance of Work in Process for Adams Company at the end of the first quarter?
a. $3,208
b. $0
C. $456
d. $2,752](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3dfd67c0-f2ad-4982-9de0-7e2a5f4d6cd8%2F898b49d2-f8cd-4b15-beb9-0485f625daf0%2Fn5onej_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 14
Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a
list of all the jobs for the quarter:
Job No. 356
Job No. 357
Job No. 358
Job No. 359
Job No. 360
Balance
$ 450
1,235
378
689
456
Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job.
What is the ending balance of Work in Process for Adams Company at the end of the first quarter?
a. $3,208
b. $0
C. $456
d. $2,752
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