The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 Accounts Receivable Raw Materials Inventory 6/30/25 Factory Insurance Finished Goods Inventory 7/1/24 Factory Machinery Depreciation Finished Goods Inventory 6/30/25 Factory Utilities Work in Process Inventory 7/1/24 Office Utilities Expense Work in Process Inventory 6/30/25 Sales Revenue Direct Labor Sales Discounts Indirect Labor $57,500 41,500 96,300 22,100 21,300 28.200 142,650 26,760 Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $29,900 4,900 17,000 31,100 8,550 561,300 4,300 65,100 9.610 1,500 99,400 42.100
The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 Accounts Receivable Raw Materials Inventory 6/30/25 Factory Insurance Finished Goods Inventory 7/1/24 Factory Machinery Depreciation Finished Goods Inventory 6/30/25 Factory Utilities Work in Process Inventory 7/1/24 Office Utilities Expense Work in Process Inventory 6/30/25 Sales Revenue Direct Labor Sales Discounts Indirect Labor $57,500 41,500 96,300 22,100 21,300 28.200 142,650 26,760 Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $29,900 4,900 17,000 31,100 8,550 561,300 4,300 65,100 9.610 1,500 99,400 42.100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:LARKSPUR COMPANY
Balance Sheet (Partial)
ASSETS
$
$
Transcribed Image Text:The following data were taken from the records of Larkspur Company for the fiscal year ended June 30, 2025.
Raw Materials Inventory 7/1/24
Raw Materials Inventory 6/30/25
Finished Goods Inventory 7/1/24
Finished Goods Inventory 6/30/25
Work in Process Inventory 7/1/24
Work in Process Inventory 6/30/25
Direct Labor
Indirect Labor
$57,500
41,500
96,300
22,100
21,300
28.200
142,650
26,760
Accounts Receivable
Factory Insurance
Factory Machinery Depreciation
Factory Utilities
Office Utilities Expense
Sales Revenue
Sales Discounts
Factory Manager's Salary
Factory Property Taxes
Factory Repairs
Raw Materials Purchases
Cash
$29,900
4,900
17,000
31.100
8,550
561,300.
4,300
65,100
9.610
1,500
99,400
42.100
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