Book3 - Matthew Caban 23-Jan-08 Cost Classification...

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Matthew Caban 23-Jan-08 Cost Classification Exercises 1 MacClenny Manufacturing Company Income Statement Sales 12600 Cost of Goods Sold Begininng FG Inv 0 Cost of Goods Manufactured 8000 Goods Available for Sale 8000 Ending finished goods inventory -2400 5600 Gross Margin 7000 4000 Net Income 3000 MacClenny Manufacturing Company Statement of Cash Flows Net Income 3,000 Adjustments to reconcile NI to net cash Operating activities Increase in Inventory -2400 Net Cash Provided by Operating Activities -2400 Financing Activities Investment in MacClenny 12,000 Net Cash Provided by Financing Activities 12,000 Net Cash 12,600 MacClenny Mfg Co. Balance Sheet A = L + E Cash 12,600 RE 15000 Inv 2,400 total assets 15,000 15,000
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b MacClenny Manufacturing Company Income Statement Sales 12600 Cost of Goods Sold Begininng FG Inv 0 Cost of Goods Manufactured 12,000 Goods Available for Sale
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This homework help was uploaded on 04/19/2008 for the course ACCT 151 taught by Professor Largay during the Spring '07 term at Lehigh University .

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Book3 - Matthew Caban 23-Jan-08 Cost Classification...

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