hw9 - 270,000 Find the cash payments for purchases, the...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
ORIE 350 Homework #9
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
P15-1B P16-1A
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
Alternatively, the manufacturing overhead account would be closed out to Cost of Goods Sold, and would not appear on the balance sheet at all. Additional Problem: Bobmart Company has the following annual and year-ending data: Year: 2005 Year: 2004 Net Sales 1,200,000 1,350,000 Cost of Goods Sold 640,000 670,000 Salaries Expense 210,000 240,000 Salaries Payable 24,000 16,000 Inventory 340,000 390,000 Accounts Payable 120,000 135,000 Accounts Receivable 240,000
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 270,000 Find the cash payments for purchases, the cash collected from customers, and the cash salaries paid to employees for Bobmart for fiscal 2005. CPP = CGS + Inv. A/P = 640,000 +(340,000 390,000) (120,000 135,000) CPP = $605,000 CCfC = Net Sales A/R = 1,200,000 (240,000 270,000) = $1,230,000 CSPE = Salaries Expense Salaries Payable = 210,000 (24,000 16,000) = $202,000...
View Full Document

Page1 / 6

hw9 - 270,000 Find the cash payments for purchases, the...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online