Bundle: College Accounting, Chapters 1-15, 22nd + Study Guide with Working Papers + CengageNOWv2™, 1 term Printed Access Card
Bundle: College Accounting, Chapters 1-15, 22nd + Study Guide with Working Papers + CengageNOWv2™, 1 term Printed Access Card
22nd Edition
ISBN: 9781337379762
Author: James A. Heintz, Robert W. Parry
Publisher: Cengage Learning
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Chapter 27, Problem 6SPB

SPREADSHEET, ADJUSTING ENTRIES, AND FINANCIAL STATEMENTS Woods Company’s trial balance columns from its spreadsheet are shown on the next page. Data for adjusting the accounts are as follows:

Chapter 27, Problem 6SPB, SPREADSHEET, ADJUSTING ENTRIES, AND FINANCIAL STATEMENTS Woods Companys trial balance columns from , example  1

Additional information needed to prepare the financial statements is as follows:

Chapter 27, Problem 6SPB, SPREADSHEET, ADJUSTING ENTRIES, AND FINANCIAL STATEMENTS Woods Companys trial balance columns from , example  2

Assume that all materials inventory items are direct materials.

REQUIRED

  1. 1. Prepare a spreadsheet.
  2. 2. Prepare the following financial statements and schedule:
    1. (a) income statement
    2. (b) schedule of cost of goods manufactured
    3. (c) statement of retained earnings
    4. (d) balance sheet

Chapter 27, Problem 6SPB, SPREADSHEET, ADJUSTING ENTRIES, AND FINANCIAL STATEMENTS Woods Companys trial balance columns from , example  3

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Bundle: College Accounting, Chapters 1-15, 22nd + Study Guide with Working Papers + CengageNOWv2™, 1 term Printed Access Card

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