sheet LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Bergo Bay's accounting system generated the following account balances on December 31. The company's manager knows something is wrong with this list of balances because it does not show any balance for Work in Process Inventor and the accrued factory payroll (Factory Wages Payable) has not been recorded. Credit Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overbead General and administrative expenses Totals Debit $ 67,000 36,000 23,000 0 12,000 4,000 104,000 27,000 45,000 $ 318,000 $ 11,100 14,100 40,000 75,000 177,800 $ 318,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: $ 4,900 direct materials to Job 402 $ 7,100 direct materials to Job 404 $ 1,800 indirect materials $7,000 direct labor to Job 402 Labor time ticket 53: Labor time ticket 54:1 $ 13,000 direct labor to Job 404 $5,000 indirect labor. Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 100% of direct labor cost.
sheet LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Bergo Bay's accounting system generated the following account balances on December 31. The company's manager knows something is wrong with this list of balances because it does not show any balance for Work in Process Inventor and the accrued factory payroll (Factory Wages Payable) has not been recorded. Credit Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overbead General and administrative expenses Totals Debit $ 67,000 36,000 23,000 0 12,000 4,000 104,000 27,000 45,000 $ 318,000 $ 11,100 14,100 40,000 75,000 177,800 $ 318,000 These six documents must be processed to bring the accounting records up to date. Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: $ 4,900 direct materials to Job 402 $ 7,100 direct materials to Job 404 $ 1,800 indirect materials $7,000 direct labor to Job 402 Labor time ticket 53: Labor time ticket 54:1 $ 13,000 direct labor to Job 404 $5,000 indirect labor. Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 100% of direct labor cost.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
![sheet LO P1, P2, P3, P4
[The following information applies to the questions displayed below.]
Bergo Bay's accounting system generated the following account balances on December 31. The company's manager
knows something is wrong with this list of balances because it does not show any balance for Work in Process Invento
and the accrued factory payroll (Factory Wages Payable) has not been recorded.
Cash
Accounts receivable
Raw materials inventory
Work in process inventory.
Finished goods inventory
Prepaid rent
Accounts payable
Notes payable
Common stock
Retained earnings (prior year)
Sales
Cost of goods, sold
Factory overhead
General and administrative expenses
Totals
Debit
$ 67,000
36,000
23,000
0
12,000
4,000
Problem 15-3A (Algo) Part 4
104,000.
27,000
45,000
$ 318,000
Credit
$ 11,100
14,100
40,000
75,000
177,800
$ 318,000
These six documents must be processed to bring the accounting records up to date.
Materials requisition 10:
Materials requisition 11:
Materials requisition 12:
$ 4,900 direct materials to Job 4021
$ 7,100 direct materials to Job 404
$ 1,800 indirect materials
$7,000 direct labor to Job 4021
Labor time ticket 52:
Labor time ticket 531
$ 13,000 direct labor to Job 404
$5,000 indirect labor
Labor time tick 541
Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 100% of direct labor cost.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb476d682-0c1b-4d81-b957-84480e4ac6fd%2F4bbcc403-1ea7-4948-9fc3-dafae2f7752f%2Fv2xohs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:sheet LO P1, P2, P3, P4
[The following information applies to the questions displayed below.]
Bergo Bay's accounting system generated the following account balances on December 31. The company's manager
knows something is wrong with this list of balances because it does not show any balance for Work in Process Invento
and the accrued factory payroll (Factory Wages Payable) has not been recorded.
Cash
Accounts receivable
Raw materials inventory
Work in process inventory.
Finished goods inventory
Prepaid rent
Accounts payable
Notes payable
Common stock
Retained earnings (prior year)
Sales
Cost of goods, sold
Factory overhead
General and administrative expenses
Totals
Debit
$ 67,000
36,000
23,000
0
12,000
4,000
Problem 15-3A (Algo) Part 4
104,000.
27,000
45,000
$ 318,000
Credit
$ 11,100
14,100
40,000
75,000
177,800
$ 318,000
These six documents must be processed to bring the accounting records up to date.
Materials requisition 10:
Materials requisition 11:
Materials requisition 12:
$ 4,900 direct materials to Job 4021
$ 7,100 direct materials to Job 404
$ 1,800 indirect materials
$7,000 direct labor to Job 4021
Labor time ticket 52:
Labor time ticket 531
$ 13,000 direct labor to Job 404
$5,000 indirect labor
Labor time tick 541
Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 100% of direct labor cost.
Transcribed Image Text:Income
Statement
Prepare an income stacement.
Balance Sheet
Total assets
Total liabilities
BERGO BAY COMPANY
Income Statement
For Year Ended December 31
Prepare a balance sheet as of December 31.
+
BERGO BAY COMPANY
Balance Sheet
As at December 31
Assets
Total equity
Total liabilities and equity
$
Inventories
Liabilities
Equity
<Income Statement
$
0
$
0
0
0
0
0
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