Homework Answers
Part 1
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KRAUSE INDUSTRIES Budgeted Cost of Goods Sold For the Year Ending December 31, 2017 |
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Finished Goods Inventory, 1/1/17 |
26520 |
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Cost of Goods Manufactured |
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Direct Materials Used |
62500 |
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Direct Labor |
50900 |
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Manufacturing Overhead Applied |
50940 |
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164340 |
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Cost of Goods Available For Sale |
190860 |
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Finished Goods Inventory, 12/31/17 |
45000 |
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Cost of goods sold |
$145860 |
Finished Goods Inventory, 12/31/17 = 2500*18 = $45000
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Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below....
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below....
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below. KRAUSE INDUSTRIES Balance Sheet December 31, 2016 Assets Current Assets Cash Accounts receivable Finished goods inventory (1,500 units) $7,500 73,500 25,070 106,070 Total current assets Property, Plant, and Equipment Equipment Less: Accumulated depreciation $40,130 10,660 29,470 Total assets $135,540 Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable $27,270 46,490 73,760 Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities...
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below....
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below. KRAUSE INDUSTRIES Balance Sheet December 31, 2016 Assets Current Assets $7,500 73,500 26,210 107,210 29,840 $137,050 Accounts receivable Finished goods inventory (1,500 units) Total current assets Property, plant, and Equipment Equipment $40,260 Less: Accumulated depreciation 10,420 Total assets Liabilities and Stockholders' Equity abities Notes payable Accounts payable Total abilities Stockholders' Equity Common stock $37,190 Retained earnings 27,910 Total stockholders' equity Total liabilities and stockholders'...
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below....
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below. $7,500 73,500 24,790 105,790 KRAUSE INDUSTRIES Balance Sheet December 31, 2016 Assets Current Assets Cash Accounts receivable Finished goods inventory (1,500 units) Total current assets Property, Plant, and Equipment Equipment $40,770 Less: Accumulated depreciation 10,800 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders' Faulty 29,970 $135,760 $26,810 46,390 73,200 $36,940 25,620 Common stock Retained earnings Total stockholders' equity...
KRAUSE INDUSTRIES Balance Sheet December 31, 2019 Assets $7,500 73,500 24,000 Current Assets Cash Accounts receivable...
KRAUSE INDUSTRIES Balance Sheet December 31, 2019 Assets $7,500 73,500 24,000 Current Assets Cash Accounts receivable Finished goods inventory (1,500 units) Total current assets Property, Plant, and Equipment Equipment Less: Accumulated depreciation 105,000 $40,000 10,000 30,000 $135,000 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable $25,000 45,000 70,000 Total liabilities Stockholders' Equity Common stock $40,000 25,000 Retained earnings 65,000 Total stockholders' equity Total liabilities and stockholders' equity $135,000 Budgeted data for the year 2020 include the following....
Balance Sheet December 31, 2016 Assets $7,500 73,500 24,790 105,790 Current Assets Cash Accounts receivable Finished...
Balance Sheet December 31, 2016 Assets $7,500 73,500 24,790 105,790 Current Assets Cash Accounts receivable Finished goods inventory (1,500 units) Total current assets Property, Plant, and Equipment Equipment $40,770 Less: Accumulated depreciation 10,800 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders' Equity Common stock $36,940 Retained earnings 25,620 29,970 $135,760 $26,810 46,390 73,200 CALCULATOR PRINTER VERSION BACK TO Sockholders cquity Total liabilities and stockholders' equity $135,760 Budgeted data for the year 2017 Include the...
Kurian Industries' balance sheet at December 31, 2015, is presented below. KURIAN INDUSTRIES Balance Sheet December...
Kurian Industries' balance sheet at December 31, 2015, is presented below. KURIAN INDUSTRIES Balance Sheet December 31, 2015 Assets Current assets Cash $7,500 Accounts receivable 82,300 Finished goods inventory (2,500 units) 29,600 Total current assets 119,400 Equipment $39,700 Less: Accumulated depreciation 10,400 29,300 Total assets $148,700 Liabilities and Shareholders' Equity Liabilities Notes payable $25,500 Accounts payable 45,100 Total liabilities 70,600 Shareholders’ equity Common stock $49,700 Retained earnings 28,400 Total shareholders’ equity...
Question: Fill in the blank Thank you! Problem 10-42A (Part Level Submission) Kurian Industries' balance sheet...
Question: Fill in the blank
Thank you!
Problem 10-42A (Part Level Submission) Kurian Industries' balance sheet at December 31, 2015, is presented below. KURIAN INDUSTRIES Balance Sheet December 31, 2015 Assets Current assets Cash $7,410 Accounts receivable 82,100 Finished goods inventory (1,600 units) 29,900 Total current assets 119,410 Equipment Less: Accumulated depreciation $39,600 28,900 10,700 Total assets $148,310 Liabilities and Shareholders' Equity Liabilities Notes payable Accounts payable Total liabilities Shareholders' equity $24,800 44,800 69,600 Common stock $49,800 28,910 Retained earnings...
Question to be answered: Fill in the blank Problem 10-42A (Part Level Submission) Kurian Industries' balance...
Question to be answered: Fill in the
blank
Problem 10-42A (Part Level Submission) Kurian Industries' balance sheet at December 31, 2015, is presented below. KURIAN INDUSTRIES Balance Sheet December 31, 2015 Assets Current assets Cash Accounts receivable Finished goods inventory (1,600 units) Total current assets Equipment Less: Accumulated depreciation Total assets 57,410 82,100 29,900 119,410 $39,600 10,700 28,900 $148,310 $24,800 44,800 69,600 Liabilities and Shareholders' Equity Liabilities Notes payable Accounts payable Total liabilities Shareholders' equity Common stock $49,800 Retained earnings...
Use all available data (Assumptions Row 4-Row 52, Balance Sheet for 2016, results from other Soultions)...
Use all available data (Assumptions Row 4-Row 52,
Balance Sheet for 2016, results from other Soultions) Answer format
also included.
1a. Create a DIRECT MATERIALS BUDGET for the year
ended December 31, 2017.
1b. Create a SCHEDULE OF EXPECTED CASH DISBURSEMENTS FOR PURCHASES
OF MATERIALS for the year ended December 31, 2017.
2. Create a DIRECT LABOR BUDGET for year ended
December 31, 2017.
3. Create a MANUFACTURING OVERHEAD BUDGET for the year
ended December 31, 2017.
Budgeted Unitsales 01...
Balance Sheet December 31, 2018 Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory 66,000 35,000...
Balance Sheet December 31, 2018 Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory 66,000 35,000 6,800 11.600 119,400 Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 142,000 (106,000) 36,000 155,400 Total Assets Liabilities 5,000 Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity 110,000 40,400 150,400 Total Liabilities and Stockholders' Equity $ 155,400 1. Prepare Gilder's operating budget and cash budget for 2019 by quarter. Required...
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below. KRAUSE INDUSTRIES Balance Sheet December 31, 2016 Assets Current Assets Cash Accounts receivable Finished goods inventory (1,500 units) $7,500 73,500 25,070 106,070 Total current assets Property, Plant, and Equipment Equipment Less: Accumulated depreciation $40,130 10,660 29,470 Total assets $135,540 Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable $27,270 46,490 73,760 Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities...
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below. KRAUSE INDUSTRIES Balance Sheet December 31, 2016 Assets Current Assets $7,500 73,500 26,210 107,210 29,840 $137,050 Accounts receivable Finished goods inventory (1,500 units) Total current assets Property, plant, and Equipment Equipment $40,260 Less: Accumulated depreciation 10,420 Total assets Liabilities and Stockholders' Equity abities Notes payable Accounts payable Total abilities Stockholders' Equity Common stock $37,190 Retained earnings 27,910 Total stockholders' equity Total liabilities and stockholders'...
Problem 21-6A (Part Level Submission) Krause Industries' balance sheet at December 31, 2016, is presented below. $7,500 73,500 24,790 105,790 KRAUSE INDUSTRIES Balance Sheet December 31, 2016 Assets Current Assets Cash Accounts receivable Finished goods inventory (1,500 units) Total current assets Property, Plant, and Equipment Equipment $40,770 Less: Accumulated depreciation 10,800 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders' Faulty 29,970 $135,760 $26,810 46,390 73,200 $36,940 25,620 Common stock Retained earnings Total stockholders' equity...
KRAUSE INDUSTRIES Balance Sheet December 31, 2019 Assets $7,500 73,500 24,000 Current Assets Cash Accounts receivable Finished goods inventory (1,500 units) Total current assets Property, Plant, and Equipment Equipment Less: Accumulated depreciation 105,000 $40,000 10,000 30,000 $135,000 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable $25,000 45,000 70,000 Total liabilities Stockholders' Equity Common stock $40,000 25,000 Retained earnings 65,000 Total stockholders' equity Total liabilities and stockholders' equity $135,000 Budgeted data for the year 2020 include the following....
Balance Sheet December 31, 2016 Assets $7,500 73,500 24,790 105,790 Current Assets Cash Accounts receivable Finished goods inventory (1,500 units) Total current assets Property, Plant, and Equipment Equipment $40,770 Less: Accumulated depreciation 10,800 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders' Equity Common stock $36,940 Retained earnings 25,620 29,970 $135,760 $26,810 46,390 73,200 CALCULATOR PRINTER VERSION BACK TO Sockholders cquity Total liabilities and stockholders' equity $135,760 Budgeted data for the year 2017 Include the...
Question: Fill in the blank
Thank you!
Problem 10-42A (Part Level Submission) Kurian Industries' balance sheet at December 31, 2015, is presented below. KURIAN INDUSTRIES Balance Sheet December 31, 2015 Assets Current assets Cash $7,410 Accounts receivable 82,100 Finished goods inventory (1,600 units) 29,900 Total current assets 119,410 Equipment Less: Accumulated depreciation $39,600 28,900 10,700 Total assets $148,310 Liabilities and Shareholders' Equity Liabilities Notes payable Accounts payable Total liabilities Shareholders' equity $24,800 44,800 69,600 Common stock $49,800 28,910 Retained earnings...
Question to be answered: Fill in the
blank
Problem 10-42A (Part Level Submission) Kurian Industries' balance sheet at December 31, 2015, is presented below. KURIAN INDUSTRIES Balance Sheet December 31, 2015 Assets Current assets Cash Accounts receivable Finished goods inventory (1,600 units) Total current assets Equipment Less: Accumulated depreciation Total assets 57,410 82,100 29,900 119,410 $39,600 10,700 28,900 $148,310 $24,800 44,800 69,600 Liabilities and Shareholders' Equity Liabilities Notes payable Accounts payable Total liabilities Shareholders' equity Common stock $49,800 Retained earnings...
Use all available data (Assumptions Row 4-Row 52,
Balance Sheet for 2016, results from other Soultions) Answer format
also included.
1a. Create a DIRECT MATERIALS BUDGET for the year
ended December 31, 2017.
1b. Create a SCHEDULE OF EXPECTED CASH DISBURSEMENTS FOR PURCHASES
OF MATERIALS for the year ended December 31, 2017.
2. Create a DIRECT LABOR BUDGET for year ended
December 31, 2017.
3. Create a MANUFACTURING OVERHEAD BUDGET for the year
ended December 31, 2017.
Budgeted Unitsales 01...
Balance Sheet December 31, 2018 Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory 66,000 35,000 6,800 11.600 119,400 Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 142,000 (106,000) 36,000 155,400 Total Assets Liabilities 5,000 Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity 110,000 40,400 150,400 Total Liabilities and Stockholders' Equity $ 155,400 1. Prepare Gilder's operating budget and cash budget for 2019 by quarter. Required...
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