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The following information is supplied for A and B Manufacturing Co. and JC Yoshino Co....

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Question

Accounting

The following information is supplied for A and B Manufacturing Co. and JC Yoshino Co. (a merchandising company).

A and B Manufacturing JC Yoshino
Merchandise inventory, January 1 $15,750
Finished goods inventory, January 1 $15,750
Merchandise purchases 11,000
Cost of goods manufactured 11,000
Merchandise inventory, December 31 13,000
Finished goods inventory, December 31 13,000

Required:

Prepare the cost of goods sold sections for the income statements of both companies for the year ended 20--.

Prepare the cost of goods sold section for the income statement of A and B Manufacturing Co. for the year ended 20--.

Income Statement instructions

A and B Manufacturing Co.

Income Statement

For the Year Ended 20--

1

Cost of goods sold:

2

3

4

5

6

Prepare the cost of goods sold section for the income statement of JC Yoshino Co. for the year ended 20--.

Income Statement instructions

JC Yoshino Co.

Income Statement

For the Year Ended 20--

1

Cost of goods sold:

2

3

4

5

6

Answer & Explanation Solved by verified expert
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