Exercise 1-26 from Text (one exercise, not 26)
Collins Company was started on January 1, 2014, and experienced the following events during its
first year of operation.
Acquired $150,000 cash from the issue of common stock.
The following information pertains to Porter Company for 2012.
Ending inventory consisted of
and sales were made with cash.
45 units @
165 units @
units. Porter sold
190 units at $30 each.
Conroe Company reported the following operating results for two consecutive years.
Cost of Goods Sold
Income Before Taxes
Percent of Sales
MGT 45: Managerial Accounting
Undergraduate Course, Winter 2015
PROFESSOR: L. JEAN DUNN, JR.
EMAIL: [email protected]; [email protected]
PHONE: (760) 703-2153
OFFICE LOCATION: In classroom
OFFICE HOURS: Tuesday after class
TA: Laura Lee [email protected];