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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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