View the step-by-step solution to:

Running head: EXERCISE 17 (E1-17) 1 Exercise 17 (E1-17) Wilson Kuncheria ACC/497 January 1, 2014 John Ball EXERCISE 17 (E1-17) 2 Exercise 17 (E1-17)...

This question was answered on Jan 31, 2014. View the Answer
b. Write a short memo to the chief accountant, indicating whether and where each of the accounts in (a) would appear on the income statement or on the balance sheet at September 30, 2011.

write the answer in the word documents under b.
Running head: EXERCISE 17 (E1-17) 1 Exercise 17 (E1-17) Wilson Kuncheria ACC/497 January 1, 2014 John Ball
Background image of page 1
EXERCISE 17 (E1-17) 2 Exercise 17 (E1-17) E1-17 a. Raw Materials September 30, 2011 3,150 (45,000 – 41,850 (Purchase cost minus cost removed to work in process)) Work in Process September 30, 2011 4,410 (41,400 – 37,260 (Cost pulled from raw materials minus cars completed and moved to lot)) Finished Goods September 30, 2011 9,315 (37,260 – 27,945 (Cars finished and moved to lot minus cars sold)) Cost of Goods Sold September 30, 2011 27,945 (This the amount of the 75% sold out of the 90% that was finished)) Selling Expense September 30, 2011 450 (This is the cost of the 50 headlamps used on company vehicles)
Background image of page 2
Show entire document
Sign up to view the entire interaction

Top Answer

Hi Student, Please accept, if you need any other help please... View the full answer

8530023.doc

Running head: EXERCISE 17 (E1-17) 1 Exercise 17 (E1-17)
Wilson Kuncheria
ACC/497
January 1, 2014
John Ball EXERCISE 17 (E1-17) 2 Exercise 17 (E1-17)
E1-17
a.
Raw Materials
September 30, 2011
3,150...

This question was asked on Jan 31, 2014 and answered on Jan 31, 2014.

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors and customizable flashcards—available anywhere, anytime.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access or to earn money with our Marketplace.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
  • -

    Flashcards

    Browse existing sets or create your own using our digital flashcard system. A simple yet effective studying tool to help you earn the grade that you want!

    Browse Flashcards