Solution-Adjusted trial balance and other records of leone

Adjusted trial balance and other records of leone company

Assignment Help Accounting Basics

Reference no: EM131759290

Question: The following calendar year-end information is taken from the December 31, 2015, adjusted trial balance and other records of Leone Company.


Advertising expense	$	26,400	Direct labor	$	687,100
Depreciation expense Office equipment		10,000	Income taxes expense		272,000
Depreciation expense Selling equipment		10,500	Indirect labor		58,200
Depreciation expense Factory equipment		36,500	Miscellaneous production costs		11,100
Factory supervision		130,700	Office salaries expense		61,000
Factory supplies used		9,200	Raw materials purchases		925,000
Factory utilities		38,000	Rent expense Office space		28,000
Inventories			Rent expense Selling space		28,200
Raw materials, December 31, 2014		161,000	Rent expense Factory building		78,400
Raw materials, December 31, 2015		189,000	Maintenance expense Factory equipment		37,400
Work in process, December 31, 2014		17,500	Sales		4,495,400
Work in process, December 31, 2015		19,500	Sales salaries expense		395,900
Finished goods, December 31, 2014		169,300
Finished goods, December 31, 2015		141,100

1. Prepare the company's 2015 schedule of cost of goods manufactured.

2. Prepare the company's 2015 income statement that reports separate categories for

(a) selling expenses and

(b) general and administrative expenses.

Reference no: EM131759290

Questions Cloud

Discuss payments made to suppliers on account : What will the journal entry be. And how should it be reported on Income Statement or Balance Sheet

Compute total budgeted selling and administrative expenses : All operating expenses are paid in cash in the month incurred. Compute total budgeted selling and administrative expenses (excluding interest) amount.

What is the estimate of price per share using the dividend : The company has 25,000 shares outstanding. What is the estimate of price per share using the dividend

Explian situational factors that influence motivation : Explian Cognitive and Situational Factors That Influence Motivation. It should take the form of a 5- to 7-slide PowerPoint presentation.

Adjusted trial balance and other records of leone company : The following calendar year-end information is taken from the December 31, 2015, adjusted trial balance and other records of Leone Company.

Network components for implementation : Evaluate the hardware, software, and network components for implementation and construct a recommendation for why you recommend selected components.

How much total interest will concord pay : With the first payment due one year after the purchase. How much total interest will Concord pay on this payment plan

Describe a rigorous formulation of the problem : Describe the problem in your own area of expertise highlighting where it is possible to apply one of the computational models - Describe the motivations

Analyze the banking industry in saudi arabia : Which are the companies operating in this industry? Do these companies form a strategic group? How do they form a strategic group?

User Account

All Pages

Adjusted trial balance and other records of leone company

Reference no: EM131759290

Reference no: EM131759290

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT