that is all thr information given Suppose a division of Now York inst.pdf

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that is all thr information given Suppose a division of Now York instruments incorporated that solls computer microchips has these inventory records for January 2021 : Click the koon to view the imentory records.) The company's accounting records show 450 units were sold for revenue of $11 , 250 . Operating expense for January was $1 , 500 . Read the teguirements. Requirement 1. Prepare the company's January. multistep income statement. Calculate income using the LIFO, average-- Jost, and FIFO methods. Label the botiom Ine "Operating income." Rou the average cost per unit to three decimal places and all other Fgures to whole-dollar amounts. Shew your computations. Begin by preparing the income statement using LIFO, then average, and finally FIFO cost. 50. Operating expense for January was $1 , 500 . alculate income using the LIFO, average-cost, and FIFO methods. Label the bottom line "Operating i ollar amounts. Show your computations. IFO cost. Data table.

that is all thr information given
Suppose a division of Now York instruments incorporated that solls computer microchips has
these inventory records for January 2021 : Click the koon to view the imentory records.) The
company's accounting records show 450 units were sold for revenue of $11 , 250 . Operating
expense for January was $1 , 500 . Read the teguirements. Requirement 1. Prepare the company's
January. multistep income statement. Calculate income using the LIFO, average-- Jost, and FIFO
methods. Label the botiom Ine "Operating income." Rou the average cost per unit to three
decimal places and all other Fgures to whole-dollar amounts. Shew your computations. Begin by
preparing the income statement using LIFO, then average, and finally FIFO cost. 50. Operating
expense for January was $1 , 500 . alculate income using the LIFO, average-cost, and FIFO
methods. Label the bottom line "Operating i ollar amounts. Show your computations. IFO cost.
Data table

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InstructionsTITLEF14-2Beginning an 8-column work sheet for a merchandising businessF14-3Analyzing and recording a merchandise inventory adjustment on a worksheetSTEPS1.Read all of the steps before completing the spreadsheet.2.Click the Application Problem 14-2, 14-3 tab to view the blank data file.3.Key your name in cell B2.4.Key, For Month Ended December 31, 20-- (use the current year), in cell C5.5.Cells containing [F] require a formula. Create and key formulas to total the Trial Balance columns.6.Cells containing [L] require a logical formula. Use the logical formula described on page 443 in your textbook. The IF function is another type of logical formula. IF functions compare two values and produce one result if the comparison is TRUE and an alternate result if the comparison is FALSE. Try using an IF function in step 6. The result should show the amount of the variance if the column totals are out of balance or OK if they are in balance. Consult Help if you need assistance with IF functions. 7.Key the adjusting entries for Supplies--Office, Supplies--Store, Prepaid Insurance and Merchandise Inventory on the appropriate line of the Adjustments Debit or Credit column. Use column E for a debit amount and Column G for a credit amount.8.Key the letter of the adjustment, in parenthesis, on the appropriate line of column D for debit entry and column F for a credit entry. [Hint: to avoid the © symbol when keying "c", add an extra space in the ( c).]This data file will also be used to complete Application Problems 14-3 through 14-6.STEPS9.Key the adjusting entries for Allowance for Uncollectible Accounts and Depreciation on the appropriate line of the Adjustments Debit or Credit column. Use column E for a debit amount and Column G for a credit amount.10.Create formulas to extend the amounts from the Trial Balance and Adjustments columns to the Income Statement (except Federal Income Tax Expense) and Balance Sheet columns. Extend Federal Income Tax Expense from cell J70.11.Create formulas to subtotal the columns. Calculate Federal Income Tax Expense using the ROUND function.12.Calculate the Federal Income Tax Expense adjustment and extend the amounts to the Income Statement columns.13.Calculate Net Income After Federal Income Tax. Create formulas to calculate the remaining column totals. Extend the amount to the appropriate Balance Sheet column.14.Check to see that all sets of columns are in balance. Make corrections as needed.15.Print the spreadsheet. &A © 2009 South-Western, Cengage Learning Application Problem 14-2, 14-3Problem Number: F14-2 and F14-3Student's Name:Branson Amusement CompanyWork SheetApplication Problem 14-2Application Problems 14-3 to 14-6Trial BalanceAdjustmentsIncome StatementBalance SheetAccount TitleDebitCreditDebitCreditDebitCreditDebitCreditCash17,560.750.00[F]Petty Cash300.000.00[F]Accounts Receivable14,710.980.00[F]Allow. for Uncoll. Accounts0.00498.59[F]Merchandise Inventory236,314.630.00[F]Supplies--Offic.

InstructionsTITLEF14-2Beginning an 8-column work sheet for a merch.docx

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