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 December 31. 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 Garcon Company $ 12,700 16,000 11,200 29,000 19, 200 18,500 22,300 6,100 9,150 28,000 11,250 7,580 41,500 61,600 287,520 25,000 15,000 Pepper Company $ 17,800 22, 200 14,850 26,950 40,200 16,400 21,000 9,200 17,250 49,500 14,760 1,600 66,000 59, 200 375,030 18, 200 20, 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 December 31. 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 Garcon Company $ 12,700 16,000 11,200 29,000 19, 200 18,500 22,300 6,100 9,150 28,000 11,250 7,580 41,500 61,600 287,520 25,000 15,000 Pepper Company $ 17,800 22, 200 14,850 26,950 40,200 16,400 21,000 9,200 17,250 49,500 14,760 1,600 66,000 59, 200 375,030 18, 200 20, 200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please do not give solution in image format thanku
![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 December 31.
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
Garcon
Company
$ 12,700
16,000
11,200
29,000
19, 200
18,500
22,300
6,100
9,150
28,000
11,250
7,580
41,500
61,600
287,520
25,000
15,000
Pepper
Company
$ 17,800
22, 200
14,850
26,950
40,200
16,400
21,000
9,200
17,250
49,500
14,760
1,600
66,000
59, 200
375,030
18, 200
20, 200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F01064941-7d1c-4085-8763-119419cfd2f2%2F99a3e021-4c58-49a4-b910-1f044c6ce47e%2F27tbrhn_processed.png&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 December 31.
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
Garcon
Company
$ 12,700
16,000
11,200
29,000
19, 200
18,500
22,300
6,100
9,150
28,000
11,250
7,580
41,500
61,600
287,520
25,000
15,000
Pepper
Company
$ 17,800
22, 200
14,850
26,950
40,200
16,400
21,000
9,200
17,250
49,500
14,760
1,600
66,000
59, 200
375,030
18, 200
20, 200
Transcribed Image Text:1. Prepare income statements for both Garcon Company and Pepper Company.
2. Prepare the current assets section of the balance sheet for each company.
Complete this question by entering your answers in the tabs below.
Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper
Prepare the income statement for Garcon Company.
Cost of goods sold:
Goods available for sale
Cost of goods sold
GARCON COMPANY
Income Statement
For Year Ended December 31
0
$
0
0
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