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Accounting balancing adjusting

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Star Mall Trial Balance January 31, 2021 Debit. Cash in Bank. Credit $ 388,000 Accounts receivable. 75,000 Finished Goods Inventory, Jan. 1. 85,000 Work in process Inventory, Jan 1. 60,000 Raw materials inventory, Jan. 1. 20,000 Factory Equipment. 850,000 Acc. Depreciation – Factory Eqpt. Office Equipment $ 85,000 260,000 Acc. Depreciated – Office Eqpt. Patent. 52,000 150,000 Voucher Payable. 180,000 C. Obeso, Capital. 1,413,000 Sales. 350,000 Purchase - Raw Materials. 90,000 Freight In. 5,000 Direct Labor. 40,000 Indirect Materials. 15,000 Indirect Labor. 18,000 Office Salaries. 20,000 Repairs and Maintenance. 12,000 Total. $2,080,000. $2,080,000 ADDITONAL DATA FOR ADJUSTMENTS: A. Inventories at the of the month: Finished Goods Inventory, Jan, 31 - $68,000 Work in process Inventory, Jan, 31 - $42,000 Raw Materials Inventory, Jan 31 - $35,000 B. The factory and office equipment depreciation for the month, $7,000 and $850 respectively. C. Patent is amortized at 20% annually D. Repair and maintenance is locate as follows: Factory. Office. 60% 40% Required: 1. A10-column Worksheet with column for the following a. Trial Balance b. Adjustment c. Cost of goods manufactured or Manufacturing d. Statement of Comprehensive Income (Income Statement) 2. Statement of comprehensive Incoming with supporting schedule Cost of Goods Manufactured 3. Statement of Financial Position 4. Post-closing Trial Balance Requirement No. 1 – Worksheet S ...
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