The following data were taken from the records of Tamarisk Company for the fiscal year...
50.1K
Verified Solution
Link Copied!
Question
Accounting
The following data were taken from the records of Tamarisk Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 $48,900 Accounts Receivable $35,500 Raw Materials Inventory 6/30/22 46,900 Factory Insurance 5,100 Finished Goods Inventory 7/1/21 97,700 Factory Machinery Depreciation 18,000 Finished Goods Inventory 6/30/22 21,600 Factory Utilities 30,000 Work in Process Inventory 7/1/21 25,200 Office Utilities Expense 9,350 Work in Process Inventory 6/30/22 23,700 Sales Revenue 558,900 Direct Labor 142,050 Sales Discounts 5,000 Indirect Labor 25,360 Factory Manager's Salary 65,200 Factory Property Taxes 9,710 Factory Repairs 2,200 Raw Materials Purchases 96,700 Cash 40,700 Prepare a cost of goods manufactured schedule. (Assume that all raw materials used were direct materials.) TAMARISK COMPANY Cost of Goods Manufactured Schedule $ $ $ > > > > Uu (b) . Prepare an income statement through gross profit. TAMARISK COMPANY Income Statement (Partial) $ $ (c). Prepare the current assets section of the balance sheet at June 30, 2022. (List Current Assets in order of liquidity.) TAMARISK COMPANY Balance Sheet (Partial) V ASSETS $ $ $
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
