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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 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Garcon Company $ 14,400 17,600 8,000 30,500 24,000 21,050 27,700 5,400 13,650 31,500 10,000 7,580 39,000 63,200 281,730 27,000 16,000 Pepper Company $ 19,150 23,700 14,850 24,250 37,800 13,000 16,600 8,400 15,750 58,000 11,860 2,700 67,000 55,900 392,710 16,700 24,700

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 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Garcon Company $ 14,400 17,600 8,000 30,500 24,000 21,050 27,700 5,400 13,650 31,500 10,000 7,580 39,000 63,200 281,730 27,000 16,000 Pepper Company $ 19,150 23,700 14,850 24,250 37,800 13,000 16,600 8,400 15,750 58,000 11,860 2,700 67,000 55,900 392,710 16,700 24,700

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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[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 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale Cost of goods sold Cost of goods sold: Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. Goods available for sale - Cost of goods sold Beg 1 Garcon PEPPER COMPANY Income Statement For Year Ended December 31 Garcon Company $ 14,400 0 17,600 8,000 30,500 24,000 21,050 27,700 5,400 13,650 31,500 10,000 7,580 39,000 63,200 281,730 27,000 16,000 0 S Pepper Company 0 $ 19,150 23,700 14,850 24,250 37,800 13,000 16,600 8,400 15,750 58,000 11,860 2,700 67,000 55,900 392,710 16,700 24,700 0 Req 1 Pepper >
Transcribed Image Text:[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 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale Cost of goods sold Cost of goods sold: Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. Goods available for sale - Cost of goods sold Beg 1 Garcon PEPPER COMPANY Income Statement For Year Ended December 31 Garcon Company $ 14,400 0 17,600 8,000 30,500 24,000 21,050 27,700 5,400 13,650 31,500 10,000 7,580 39,000 63,200 281,730 27,000 16,000 0 S Pepper Company 0 $ 19,150 23,700 14,850 24,250 37,800 13,000 16,600 8,400 15,750 58,000 11,860 2,700 67,000 55,900 392,710 16,700 24,700 0 Req 1 Pepper >
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