Question

Please answer the following questions:

A partial list of Waterways' accounts and their balances for the month of November follows:

From the below information please create the following:

a) prepare a cost of goods manufactured schedule

b) prepare an income statement

c) prepare a partial balance sheet for Waterways' Corporation for the month of November. (List Current Assets in order of liquidity.)

Below the char,t is a list of accounts for part A-C.

Thank you. :)

Accounts Receivable		$274,500
Advertising Expenses		54,200
Cash		261,000
Depreciation—Factory Equipment		16,800
Depreciation—Office Equipment		2,500
Direct Labor		41,900
Factory Supplies Used		16,700
Factory Utilities		10,300
Finished Goods Inventory, November 30		68,800
Finished Goods Inventory, October 31		73,100
Indirect Labor		48,100
Office Supplies Expense		1,600
Other Administrative Expenses		71,500
Prepaid Expenses		41,400
Raw Materials Inventory, November 30		52,300
Raw Materials Inventory, October 31		37,600
Raw Materials Purchases		184,100
Rent—Factory Equipment		46,800
Repairs—Factory Equipment		4,600
Salaries		323,000
Sales Revenue		1,354,600
Sales Commissions		40,500
Work In Process Inventory October 31		52,600
Work In Process Inventory, November 30		42,200

Accounts Receivable
Administrative Expenses
Cash
Direct Labor
Factory Depreciation
Factory Insurance
Factory Manager's Salary
Factory Property Taxes
Factory Repairs
Factory Utilities
Finished Goods Inventory
Income Summary
Income Tax Expense
Indirect Labor
Manufacturing Summary
Prepaid Expenses
Raw Materials Inventory
Raw Materials Purchases
Retained Earnings
Sales
Selling Expenses
Work in Process Inventory

Answer 1