Managerial Accounting
14th Edition
ISBN: 9781337270595
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 1, Problem 11E
Manufacturing company
Partial balance sheet data for Diesel Additives Company at August 31 are as follows:
Prepare the “Current assets” section of Diesel Additives Company’s balance sheet at August 31.
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Partial balance sheet data for Diesel Additives Company at August 31 are as follows:
Finished goods inventory
$ 13,800
Supplies
Materials inventory
$ 89,400
Prepaid insurance
Accounts receivable
Work in process inventory
9,000
26,800
348,200
Cash
167,500
61,100
Prepare the Current assets section of Diesel Additives Company's balance sheet at August 31.
The following account balances and other information were taken from the accounting
records of Langga Corporation for the year ended Dec. 31, 2019. Use the information to
prepare a schedule of manufacturing overhead costs, a manufacturing statement (show
only the total overhead cost), and a statement of comprehensive income.
Advertising Expense
Amortization of Patents
Uncollectible Accounts Expense
P 85,000
16,000
28,000
37,000
133,000
78,000
250,000
62,000
74,000
21,000
Depreciation Expense-Office Equipment
Depreciation Expense-Factory Building
Depreciation Expense-Factory Equipment
Direct Labor
Factory Insurance Expense
Factory Supervision
Factory Supplies Expense
Factory Utilities
Finished Goods Inventory, Dec. 31, 2018
Finished Goods Inventory, Dec. 31, 2019
Work in Process Inventory, Dec. 31, 2018
Work in Process Inventory, Dec. 31, 2019
Indirect Labor
115,000
15,000
12,500
8,000
9,000
26,000
25,000
55,000
14,000
60,000
78,000
313,000
Interest Expense
Miscellaneous Expenses…
Manufacturing Company Balance Sheet
Partial balance sheet data for Diesel Additives Company at August 31 are as follows:
Line Item Description Amount
Finished goods inventory $13,600
Prepaid insurance 13,900
Accounts receivable 35,400
Work in process inventory 54,400
Supplies 24,500
Materials inventory 29,900
Cash 38,100
Prepare the “Current assets” section of Diesel Additives Company’s balance sheet at August 31.
Diesel Additives Company
Balance Sheet
August 31
Line Item Description Amount Amount
Current assets:
$- Select -
- Select -
Inventories:
$- Select -
- Select -
- Select -
Total inventories Total inventories
- Select -
- Select -
Total current assets $Total current assets
Chapter 1 Solutions
Managerial Accounting
Ch. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - What manufacturing cost term is used to describe...Ch. 1 - Distinguish between prime costs and conversion...Ch. 1 - What is the difference between a product cost and...Ch. 1 - Name the three inventory accounts for a...Ch. 1 - In what order should the three inventories of a...Ch. 1 - What are the three categories of manufacturing...Ch. 1 - Prob. 9DQCh. 1 - How does the Cost of goods sold section of the...
Ch. 1 - Management process Three phases of the management...Ch. 1 - Prob. 2BECh. 1 - Prime and conversion costs Identify the following...Ch. 1 - Product and period costs Identify the following...Ch. 1 - Cost of goods sold, cost of goods manufactured...Ch. 1 - Prob. 1ECh. 1 - Prob. 2ECh. 1 - Prob. 3ECh. 1 - Prob. 4ECh. 1 - Concepts and terminology From the choices...Ch. 1 - Prob. 6ECh. 1 - Prob. 7ECh. 1 - Prob. 8ECh. 1 - Classifying costs The following is a manufacturing...Ch. 1 - Prob. 10ECh. 1 - Manufacturing company balance sheet Partial...Ch. 1 - Prob. 12ECh. 1 - Prob. 13ECh. 1 - Cost of goods manufactured for a manufacturing...Ch. 1 - Income statement for a manufacturing company Two...Ch. 1 - Statement of cost of goods manufactured for a...Ch. 1 - Cost of goods sold, profit margin, and net income...Ch. 1 - Cost flow relationships The following information...Ch. 1 - Classifying costs The following is a list of costs...Ch. 1 - Prob. 2PACh. 1 - Cost classifications for a service company A...Ch. 1 - Manufacturing income statement, statement of cost...Ch. 1 - Statement of cost of goods manufactured and income...Ch. 1 - Prob. 1PBCh. 1 - Classifying costs The following is a list of costs...Ch. 1 - Prob. 3PBCh. 1 - Several items are omitted from the income...Ch. 1 - Statement of cost of goods manufactured and income...Ch. 1 - Prob. 1ADMCh. 1 - Comparing occupancy for two hotels Sunrise Suites...Ch. 1 - Prob. 3ADMCh. 1 - Prob. 4ADMCh. 1 - Prob. 1TIFCh. 1 - Communication Todd Johnson is the Vice President...
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