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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)...

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
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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)
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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...

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