Lean Manufacturing The main objective of lean manufacturing is to yield products with high quality, low cost, and immediate availability. In attempting to achieve this objective many producers have applied lean manufacturing. To Explain: The way in which the managers would be responded.

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Cullen Beatty plans to start a consulting business-Cullen Consulting Services. In preparation to do this, on April 1, 20X1, he invested $56,000 in cash and $23,000 in equipment, and opened an account at Office Plus by purchasing $1,750 in office supplies which is due by the end of the month. He then signed a one-year lease agreement on an office building for $8,400, paying the full amount in advance. Prepare a Balance Sheet for Cullen Consulting Services as of April 1, 20X1, before he conducts any services. Cash Equipment Prepaid rent CULLEN CONSULTING SERVICES Balance Sheet April 1, 20X1 Assets Liabilities $ 47,600 Accounts payable 23,000 8,400 Owner's Equity $ 1,750 Cullen Beatty, Capital 77,250 Total Assets $ 79,000 Total Liabilities and Owner's Equity $ 79,000

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Chapter 20, Problem 20.23EX

To determine

Lean Manufacturing

The main objective of lean manufacturing is to yield products with high quality, low cost, and immediate availability. In attempting to achieve this objective many producers have applied lean manufacturing.

To Explain: The way in which the managers would be responded.

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