Posted: April 5th, 2018

Accounting Problem 18-01

Downside 18-01Class:Half 1: Value of Objects Supplied for a Merchandising BusinessPINNACLE RETAILPartial Income StatementFor 12 months Ended December 31, XXX2Cost of merchandise supplied:Merchandise inventory, December 31, XXX1Merchandise purchasesGoods on the market for saleLess merchandise inventory, December 31, XXX2Cost of merchandise soldPart 2: Value of Objects Supplied for a Manufacturing BusinessSLOPE BOARD MANUFACTURINGPartial Income StatementFor 12 months Ended December 31, XXX2Cost of merchandise supplied:Accomplished objects inventory, December 31, XXX1Cost of merchandise manufacturedGoods on the market for saleFinished objects inventory, December 31, XXX2Cost of merchandise soldPart three: Make clear the excellence between calculating worth of merchandise supplied for a merchandising and a producing enterprise. Level out what inventory accounts are used for each and on what financial assertion and whereby half these inventory accounts may very well be included.Given Data P18-01:Financial data at December 31, 2005:Pinnacle Slope BoardRetailManufacturingBeginning inventory:MerchandiseFinished goodsCost of purchasesCost of merchandise manufacturedEnding inventoryMerchandiseFinished goodsCheck decide:(1) Slope Board’s worth of merchandise supplied$150,000$300,000250,000586,000100,000200,000$686,000Instructions:Half 1: Full the partial income assertion for Pinnacle, a merchandising enterprise.Half 2: Full the partial income assertion for Slope, a producing enterprise.Half three: Make clear the excellence between calculating worth of merchandise supplied for a merchandising and a producing enterprise.Level out what inventory accounts are used for each and on what financial assertion and whereby half these inventory accounts may very well be included.

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