Intermediate Accounting – I Week 10 – Final

| June 2, 2016

Question
Intermediate Accounting – I
Week 10 – Final Project

1

THERMOLYSIS, INC.
Custom – Income Statement

Net Income or Loss

2

Multiple-Step Income Statement

Dec-09 Debit/(Credit)
Year to Date Actual
Description
Debit
Credit
5001 Revenues
You are the Corporate Controller for Thermolysis, Inc., a specialty manufacturer of consumables and equipment for a wide
5100 Gross Sales-Product A
$26,276,476
variety of industries but specifically focused on the Life Sciences and Scientific Industries.
5110 Gross Sales – Product B
$9,125,505
5120 Gross Sales – Product C
$2,388,790
In 2009, the business suffered a dramatic decline in revenues as a result of the economic downturn and the lingering effects of the
5200 Good Returns – Product A
$790,423
credit crunch. Due to the violation of debt covenants, the business was forced to renegotiate their credit agreements on two
5210 Good Returns – Product B
$385,900
separate occasions, once in March 2009 and another in September 2009. Customer orders stabilized in Q409 which saw a small
5220 Good Returns – Product C
$85,459
increase in revenue gains versus Q309. Because of this, and the fact that their largest customer placed a volume order in
5300 Defective Returns – Re
$12,960
December, the CEO feels that the business has finally stabilized after a tumultuous and gut-wrenching year.
5400 Small Bal.W/O – Product A
$9
5410 Small Bal.W/O – Product B
$11
Because of the amount of unique business decisions required to weather the storm, and the fact that the business had to
5420 Small Bal.W/O – Product C
renegotiate its debt covenants twice during the year, the CEO has asked you to devote 100% of your time in January and
5600 Cash Discount- Product A
February of 2010 making sure that the 2009 financial statements and accounting transactions are appropriately stated and backed
5620 Cash Discount- Product B
by appropriate accounting.
5700 CONTRA SALE
5001 Revenues
$1,261,792
$37,803,741
This comprehensive case problem will require you to utilize the skills learned and apply professional judgment to various
5900 Mfg.Production Credit
situations you will encounter throughout your professional career.
5910 Prod.Credit LAB.-SVP$140,248
5920 Prod.Credit LAB.-SVP$6,478,715
Required:
5925 Prod.Credit O/H.-SVP$12,253,916
5900 Mfg.Production Credit
$140,248
$18,732,631
1.
The Accounting Manager recently completed closing December 2009 on a draft basis. You have just received the1. The Accounting Manager recently completed closing of Goods Sold on a draft basis. You have just received the
6000 Cost December 2009
attached trial income statement. Prepare a preliminary multi-step income statement. When consolidating the data, please
6100 CoGS – Product A
$17,972,036
6110 CoGS – Product B
$6,967,170
use your judgment in consolidating accounts into major groupings for presentation. (NOTE: Credits are presented as
negative numbers and debits as positive numbers. Additionally, use the main account headings to your advantage which
6120 CoGS – Product C
$1,601,510
will help roll up the subaccounts).
6200 CoG Good Returns – Product A
$312,641
6210 CoG Good Returns – Product B
$271,514
2.
The Accounting Manager has informed you that the cash reconciliation is showing an un-reconciled difference to the2. The Accounting Manager has informed 6220that the cash Returns- Product C
you CoG Good reconciliation is showing an un-reconciled difference to the
$10,001
bank statement of ($144,000), that is, the bank says you have more cash than you think you do. Through investigation,
6300 CoG-Defective Returns
$9,072
you have determined that the payroll clerk has not been crediting back employee contributions such as 401(k) and health
6320 CoG-Defective Returns$17,219
6400 CoG-Rework/Replace-Product A
$190,551
insurance paid for by the employee. Prepare a journal entry to correct this amount.
6410 CoG-Rework/Replace-Product B
$418
3.
Included in the results is an increase in the ending inventory value due to changing the standard costs in preparation for3. Included in the results is an increase in the ending inventory value due to changing the standard costs in preparation for
6000 Cost of Goods Sold
$26,740,758
$611,375
the 2010 budget. This resulted in an increase in ending inventory of approximately $650,000. Write a memorandum to
6600 Cost Variances
the CFO recommending an accounting methodology to remove this illusory profit over the course of the operating cycle
6610 Cost Variances -Mat’l
$1,144,853
in 2010. Prepare a journal entry based on your accounting policy. See the Written Assignments Rubric listed in your
6620 Cost Variances -Mat’l
$149
online classroom.
6630 Cost Variances -Mat’l
$9,109
6632 CAP.MFG.VARIANCE ADJ.
$856,600
4.
Due to cash flow constraints in the month of September, the CEO made the difficult decision to sell a building that the4. Due to cash flow constraints in the month of P.P.V. – SPARECEO made the difficult decision to sell a building that the
6635 September, the PARTS
$34,579
company owned. This decision was made after the CFO determined that they would not be able to meet payroll the
6637 P.P.V. – MRO’s
$32,484
following week. Due to several customer bankruptcies, incoming cash flow from accounts receivable was depressed.
6640 Purch.Acctg./ Inv. Rev
$997,437
6646 Planned Mat’l Variance
$3,968,848
Contract Sales Price
$265,000
6647 Planned Lbr Variances
$63,612
Borrower Paid Settlement
6648 Planned Mach O/H Varia
$66,229
Charges
$4,123
6649 Planned Lbr. O/H Varia
$44,312
Prepaid Taxes
$1,639
6650 Purch.Acctg./ Inv. Rev
$16,391
Seller Paid Settlement Charges
$21,805
6651 Planned Outside Proces
$4,145
6652 Eng.Mat’l Variances
$825,352
Asset Description
Book Value
6653 Eng.Labor Variances
$2,169
Building, Warehouse/Office
$300,000
6654 Eng.Mach.O/H Variances
$32,243
Accumulated Depreciation
$28,500
6655 Eng.Labor O/H Variance
$53,055
Land
$50,000
6656 Eng. Outside Process V
$305
6658 Other Mat’l Variances
$1,377,581
a.
This building was used for small R&D projects, warehouse space, as well as offices for engineering. These functionsa.
This building was used for small R&D projects, warehouse space, as well as offices for engineering. These functions
6659 Other Labor Variances
$40,541
have been consolidated into their main facility less than two miles away. Presented above are the closing documents.
6660 Purch.Acctg./ Inv. Rev
$11,692
b. Please prepare a list of journal entries to remove the building off of the books based on the above closing documents. b. Please prepare a list of journal entries to remove theLbr O/H/ off of the books based on the above closing documents.
6661 Other building Varianc
$26,911
Was there a gain or loss on the sale? How did the proceeds help the cash-constrained business continue operating? What
6662 Other Outside Process
$23,846
alternative steps could you have recommended to the CFO, if any?
6664 Other Mach..O/H Varian
$15,657
6670 Cost.Var-Mat’l Cycle C
$332,190
5.
As the Corporate Controller, you have been concerned that goodwill could be impaired due to the severe economic5. As the Corporate Controller, you have been concerned that goodwill could be impaired due to the severe economic
6680 Cost.Var-Mat’l Cycle C
$184,552
downturn. You have contracted with an outside business valuation firm that has determined that the fair value of the
6690 Cost.Var-Mat’l Cycle C
$4,374
business is $45.6M, using an income approach and calculating the free cash flow of the business using a ten-year time
6693 INV. WRITE UP AMORT$0
horizon. Provide a recommendation to the CFO and CEO in regards to the value of the goodwill impairment. Write a
6695 Cost.Var-Inventory Adj
$157,630
memorandum that clearly articulates your analysis and recommendation.
6696 Cost.Var-Inventory Adj
6697 Cost.Var-Inventory Adj
$71,976
6700 Cost Vari.- Mat’l Scra
$202,325
6703 X1-MAT’L USAGE-RM
$972,288
6705 X2 SCRAP -RM
$591,899
6710 Cost Vari.-Mat’l Scrap
$14,585
6713 X1-MAT’L USAGE-LTG
$175,865
6715 X2 SCRAP- LTG
$28,943
6730 Cost Vari-Spending- RM
$74,929
6740 Cost Vari-Spending-LTG
$51,069
6760 Cost Vari- Labor -RM
$85,099
6770 Cost Vari- Labor -Ligh
$85,465
6800 Mat’l Consumed-WIP- RM
6800 Mat’l Consumed-WIP- RM
6813 Mat’l Cnsm-Fin.Goods $2,715,173
6814 Mat’l Cnsm-Fin.Goods $593,711
6820 Mat’l Cnsm-RMat’l Gain
$233,614
6823 Scrap Reconciliation
$786,934
6830 Mat’l Cnsm-RMat’l Gai
$24,155
6850 Mat’l Cnsm-WIP Gain/L
6850 Mat’l Cnsm-WIP Gain/L
6860 Mat’l Cnsm-WIP Gain/Lo
$399,134
6870 Subcontract Work
6870 Subcontract Work
6880 Inbound Freight & Insu
$56,926
6890 Import Duties
$19,949
6900 Purchase Cash discount
$12,705
6990 Other Material Costs
$231,427
6600 Cost Variances
$8,900,078.72
$8,854,938.24
Total Revenue
$37,042,876.65
$66,002,685.06
7000 Total Expenses
7100 Wages
7105 Salaries
$4,803,428
7110 Salaries -Overtime
$18
7120 Direct Labor – Plant
$4,107,726
7125 Direct Labor-Shift Di
$62,761
7130 Direct Labor -Overtim
$228,102
7135 Direct Labor – Vac. &
$627,002
7140 Indirect Labor – Plan
$285,782
7145 Indirect Labor -Shift
$398
7150 Indirect Labor – Over
$10,515
7155 Indirect Labor – Vac.
$42,368
7160 Maintenance Labor
$588,938
7165 Maintenacne Labor-Shi
$614
7170 Maintenance Labor – O
$18,970
7175 Mainten. Labor- Vac.&
$91,850
7180 Bonus Expenses
$384,677
7100 Wages
$11,253,151
$7200 Fringe Benefits
7205 Salary Payroll Tax
$364,693
7210 Direct Hourly Payroll
$446,796
7215 Indirect Payroll Tax
$26,986
7220 Maintenance Payroll T
$62,403
7225 Salary -Benefits
$840,459
7230 Direct Labor – Benefi
$1,819,753
7235 Indirect Labor- Benef
$91,221
7240 Maintenance Labor-Ben
$236,327
7263 Health Ins. Co-Pay
$6,449
7265 Salary Severance
$92,674
7270 Direct Labor -Pension
$539,121
7275 Indirect Labor-Pensio
$34,869
7280 Maintenance Labor-Pen
$68,724
7285 Salary -Pension
7200 Fringe Benefits
$4,537,800
$92,674
7300 Temporary Wages
7310 Temporary Salaries &
$66,256
7300 Temporary Wages
$66,256
$7400 Travel & Living Expens
7410 Air / Rail Fares
$149,596
7420 Meals
$37,116
7430 Lodging
$80,147
7440 Car Rental
$27,497
7450 Entertainment
$36,299
7460 Vehicle Expense
$45,080
7470 Misc. T&L Expenses
$50,886
7400 Travel & Living Expens
$426,620
$7500 Personnel Expenses
7510 Hiring Expenses
$48,398
7520 Relocation Expense
$43,076
7530 Other Personnel Expen
$30,283
7540 Memberships
$4,211
7550 Training & Education
$16,442
7570 Contribution
$3,809
7500 Personnel Expenses
$146,219
$7600 Sales & Marketing
7610 Advertising
$91,344
7630 Trade Shows
$990
7640 Commissions
$83,975
7670 Rent- Warehouse
7680 Samples Issued to Sal
$108
7690 Freight on Invoices $11,806
7600 Sales & Marketing
$188,223
$8000 Manufacturing Expenses
8005 Tools
$28,100
8010 Spare Parts
$76,797
8015 Experimental/Test Mat
$185,142
8025 Roll Regrinding & Rew
$50,305
8030 Non-Capital Equipment
$15,218
8035 Electric
$1,470,290
8040 Natural Gas & Liquid
$565,470
8042 Waste Disposal
$63,027
8045 Process Gases
$716,628
8050 Water & Sewer
$109,950
8055 Capital Transfers
$51,597
8060 CPAR Expense
$50,583
8065 Depreciation Expense
$3,152,997
8070 Freight – Inbound
$96,821
8075 Freight – Outbound
$26,623
8080 Packaging Mat’l Expen
$99,775
8083 Spool Expense
8085 Gen’l supplies – Fire
$14,917
8090 Testing Fees
$69,491
8092 Outside Services
$440,606
8093 Outside SRVC-Ingot Pr
$1,223
8095 Auxiliary Materials
$17,688
8100 General Supplies
$573,349
8105 Graphite / Aquadaq
$89,284
8110 Chemical – Caustic So
$45,059
8115 Chem – Muriatic/ Nitr
$56,475
8120 Chemicals – Lubricant
$125,578
8125 Bearings
$20,358
8130 Cutting Wheels
$101,597
8135 Repair Materials
$113,924
8140 Outside Repairs
$25,501
8142 Repair&Maint.-Bldg.
$99,510
8143 Repair&Maint.- Equip.
$180,472
8145 Dies
$181,195
8150 Die Regrinding & Rewo
$47,130
8155 Kanban Tooling Suppli
$967,797
8160 Kanban Electrical Sup
$31,151
8165 Kanban Plumbing Suppl
$11,750
8180 Misc. Expenses
$1,250
8185 Misc. Recovery
$20,071
8000 Manufacturing Expenses
$9,923,029
$71,668
8200 MIS
8205 Telephone & Telefax
$82,892
8210 Telephone Service
$12,397
8215 Other Telephone
$94
8245 Mobile Telephone
$306
8250 Web Expenses
$389
8255 Network
$14,392
8260 Computer Support
$85,901
8270 Computer Supplies
$77,716
8200 MIS
$274,086
$8300 Professional Service E
8310 Legal Service
$100,421
8320 Professional Services
$364,180
8340 Other Professional Se
$3,694
8350 Consultant Fees
$53,757
8360 Dun & Bradstreet Fees
$16,489
8370 Payroll Fees (ADP)
$40,756
8300 Professional Service E
$579,297
$8400 Administrative Expense
8405 Office & Plant Lease
$27,648
8410 Equipment Lease
$301,413
8415 Auto Lease
$1,539
8425 Uniform Rentals
8430 Franchise Tax Expense
$74,391
8435 Personal Property Tax
$63,631
8440 Real Estate Taxes
$204,500
8445 Insurance Expense
$201,156
8450 License & Registratio
$5,706
8455 Security System
$1,052
8460 Postage
$13,886
8465 Office Supplies/ Smal
$53,308
8475 Cleaning Supplies
8500 Dues & Subscriptions
$27,652
8510 Publications
$27,097
8525 Collection Agency Fee
8530 Bank Charges and Fees
$73,935
8535 Bad Debt
$153,541
8545 Safety Committee Expe
$399
8560 Sales & Use Tax
$40,050
8570 Other Tax – Tax Disco
$54
8400 Administrative Expense
$1,117,417
$153,541
8970 Allocations to/frm Cst
8970 Allocations to/frm Cst
9000 Other Income and Expen
9100 Interest Income
$3,194
9120 Misc. Expenses
$25,000
9170 Closing Expense
$154,023
9180 Management Fees
$500,000
9190 Interest Rate Swap
9200 Gain/Loss on Currency
9200 Gain/Loss on Currency
$679,023
$3,194
9320 TA Expense
$960,000
9330 CR Amortization Exp.
$1,600,000
9400 Gain/Loss on Disposit
9410 Proceeds from Asset
$2,500
9420 Net Book Value of As
$49,805
9400 Gain/Loss on Disposit
$49,805
$2,500
9500 Other Expense
9510 Interest Expense
$2,813,251
9525 Financing Costs Amor
$87,759
9500 Other Expense
$2,901,010
$9000 Other Income and Expen
$6,189,838
$5,694
9700 Provision for Income T
9710 Current Provision fo
$508,490
9700 Provision for Income T
$$508,490
7000 Total Expenses
$34,701,937
$832,068
$(71,744,813.45)

$(66,834,753.24)

GENERAL JOURNAL
Date Account Titles and Explanation
THERMOLYSIS, INC.
INCOME STATEMENT

Balance

12/31 Employee contribution
Cash

FOR THE YEAR ENDED DECEMBER 31, 2009

$(26,276,476)
$(9,125,505)
$(2,388,790)
$790,423
$385,900
$85,459
$(12,960)
$(9)
$11
$$$$$(36,541,948)
$$140,248
$(6,478,715)
$(12,253,916)
$(18,592,383)
$$17,972,036
$6,967,170
$1,601,510
$(312,641)
$(271,514)
$(10,001)
$9,072
$(17,219)
$190,551
$418
$26,129,383
$$(1,144,853)
$(149)
$(9,109)
$(856,600)
$34,579
$32,484
$997,437
$(3,968,848)
$(63,612)
$(66,229)
$44,312
$(16,391)
$(4,145)
$825,352
$(2,169)
$32,243
$(53,055)
$(305)
$1,377,581
$40,541
$(11,692)
$(26,911)
$(23,846)
$15,657
$332,190
$(184,552)
$4,374
$0
$157,630
$$71,976
$(202,325)
$(972,288)
$591,899
$(14,585)
$(175,865)
$28,943
$74,929
$51,069
$85,099
$85,465
$$$2,715,173
$593,711
$(233,614)
$(786,934)
$(24,155)
$$$399,134
$$$56,926
$19,949
$(12,705)
$231,427
$45,140.48
$(28,959,808.41)
$$$4,803,428
$18
$4,107,726
$62,761
$228,102
$627,002
$285,782
$398
$10,515
$42,368
$588,938
$614
$18,970
$91,850
$384,677
$11,253,151
$$364,693
$446,796
$26,986
$62,403
$840,459
$1,819,753
$91,221
$236,327
$6,449
$(92,674)
$539,121
$34,869
$68,724
$$4,445,126
$$66,256
$66,256
$$149,596
$37,116
$80,147
$27,497
$36,299
$45,080
$50,886
$426,620
$$48,398
$43,076
$30,283
$4,211
$16,442
$3,809
$146,219
$$91,344
$990
$83,975
$$108
$11,806
$188,223
$$28,100
$76,797
$185,142
$50,305
$15,218
$1,470,290
$565,470
$63,027
$716,628
$109,950
$(51,597)
$50,583
$3,152,997
$96,821
$26,623
$99,775
$$14,917
$69,491
$440,606
$1,223
$17,688
$573,349
$89,284
$45,059
$56,475
$125,578
$20,358
$101,597
$113,924
$25,501
$99,510
$180,472
$181,195
$47,130
$967,797
$31,151
$11,750
$1,250
$(20,071)
$9,851,361
$$82,892
$12,397
$94
$306
$389
$14,392
$85,901
$77,716
$274,086
$$100,421
$364,180
$3,694
$53,757
$16,489
$40,756
$579,297
$27,648
$301,413
$1,539
$74,391
$63,631
$204,500
$201,156
$5,706
$1,052
$13,886
$53,308
$27,652
$27,097
$73,935
$(153,541)
$399
$40,050
$54
$963,876
$$$$(3,194)
$25,000
$154,023
$500,000
$$$675,828
$960,000
$1,600,000
$$(2,500)
$49,805
$47,305
$$2,813,251
$87,759
$2,901,010
$6,184,143
$$(508,490)
$(508,490)
$33,869,869
$(4,910,060.21)

Sales
Sales revenues
Mfg. Production Credit
Prod. Credit

$37,803,741
$140,248
18,732,631

18,592,383

Less: Sales discounts
Sales returns and allowances

1,261,792

1,261,792

Less: Cost
Cost Variances

8,900,079
8,854,938

Net sales
Cost of goods sold
Gross profit.
Operating Expenses
Selling expenses
Sales salaries
Sales commissions
Travel expense
Delivery expense
Entertainment expense
Legal Service
Telephone and Internet expense
Advertising
Depreciation of sales equipment
Utulities
Maintenance and repairs expense (sales)
Miscellaneous selling expenses

45,140
55,089,191
26,129,383
28,959,808

$15,764,533
83,975
390,321
235,024
36,299
100,421
110,469
91,344
3,152,997
2,208,737
583,024
4,473,195

27,230,340
Administrative expenses
Equipment Lease
301,413
Telephone and Internet expense (adm)
Depreciation expense (office furn and equip)
Franchise Tax Expense
74,391
Property tax expense
63,631
Real Estate Taxes
204,500
Insurance Expense
201,156
Sales & Use Tax
40,050
Maint. And repairs expense ( adm)
Office expense
53,308
Miscellaneous expenses
178,968
Bad debt expense (adm)
153,541
963,876
Income from operations..
Other Revenues and Gains
Interest income
Proceeds from Asset
Current Provision
Other Expenses and Losses
Closing expense
Management fees
TA expense
CR amortization exp
Interest expense
Miscellaneous expenses

154,023
500,000
960,000
1,600,000
2,813,251
162,564

28,194,216
765,593
3,194
2,500
508,490
1,279,778

6,189,838

Loss before income tax

(4,910,060)

Net loss for the year..

(4,910,060)

Earnings per common share
Dividends declaraed on preferred stock
Net Income

$2.66
9,000
(4,919,060)
80,000
$2.66

Shares
Earnings per common share
$212,525 / 80,000

TWAIN CORPORATION
STATEMENT OF RETAINED EARNINGS
FOR THE MONTH ENDED JUNE 30, 2014

Retained earnings, July 1, 2013
Depreciation understatement
due to error-2011 (net of tax)
Retained earnings, July 1, 2013 – Adj.

$337,000

Add: Net Income

(4,910,060)
(4,590,760)

Less: Dividends declaraed on preferred stock
Dividends declaraed on common stock
Retained earnings, June 30, 2014

($17,700)
319,300

###
###

46,000
($4,636,760)

Debit

Credit

144,000
144,000

THERMOLYSIS, INC.
Custom – Income Statement
Dec-09 Debit/(Credit)
Description
5001 Revenues
5100 Gross Sales-Product A
5110 Gross Sales – Product B
5120 Gross Sales – Product C
5200 Good Returns – Product A
5210 Good Returns – Product B
5220 Good Returns – Product C
5300 Defective Returns – Re
5400 Small Bal.W/O – Product A
5410 Small Bal.W/O – Product B
5420 Small Bal.W/O – Product C
5600 Cash Discount- Product A
5620 Cash Discount- Product B
5700 CONTRA SALE
5001 Revenues
5900 Mfg.Production Credit
5910 Prod.Credit LAB.-SVP5920 Prod.Credit LAB.-SVP5925 Prod.Credit O/H.-SVP5900 Mfg.Production Credit
6000 Cost of Goods Sold
6100 CoGS – Product A
6110 CoGS – Product B
6120 CoGS – Product C
6200 CoG Good Returns – Product A
6210 CoG Good Returns – Product B
6220 CoG Good Returns- Product C
6300 CoG-Defective Returns
6320 CoG-Defective Returns6400 CoG-Rework/Replace-Product A
6410 CoG-Rework/Replace-Product B
6000 Cost of Goods Sold
6600 Cost Variances
6610 Cost Variances -Mat’l
6620 Cost Variances -Mat’l
6630 Cost Variances -Mat’l
6632 CAP.MFG.VARIANCE ADJ.
6635 P.P.V. – SPARE PARTS
6637 P.P.V. – MRO’s
6640 Purch.Acctg./ Inv. Rev
6646 Planned Mat’l Variance
6647 Planned Lbr Variances
6648 Planned Mach O/H Varia
6649 Planned Lbr. O/H Varia
6650 Purch.Acctg./ Inv. Rev
6651 Planned Outside Proces
6652 Eng.Mat’l Variances
6653 Eng.Labor Variances
6654 Eng.Mach.O/H Variances
6655 Eng.Labor O/H Variance
6656 Eng. Outside Process V
6658 Other Mat’l Variances
6659 Other Labor Variances
6660 Purch.Acctg./ Inv. Rev
6661 Other Lbr O/H/ Varianc
6662 Other Outside Process
6664 Other Mach..O/H Varian
6670 Cost.Var-Mat’l Cycle C
6680 Cost.Var-Mat’l Cycle C
6690 Cost.Var-Mat’l Cycle C
6693 INV. WRITE UP AMORT6695 Cost.Var-Inventory Adj
6696 Cost.Var-Inventory Adj
6697 Cost.Var-Inventory Adj
6700 Cost Vari.- Mat’l Scra
6703 X1-MAT’L USAGE-RM
6705 X2 SCRAP -RM
6710 Cost Vari.-Mat’l Scrap
6713 X1-MAT’L USAGE-LTG
6715 X2 SCRAP- LTG
6730 Cost Vari-Spending- RM
6740 Cost Vari-Spending-LTG
6760 Cost Vari- Labor -RM
6770 Cost Vari- Labor -Ligh
6800 Mat’l Consumed-WIP- RM
6800 Mat’l Consumed-WIP- RM
6813 Mat’l Cnsm-Fin.Goods 6814 Mat’l Cnsm-Fin.Goods 6820 Mat’l Cnsm-RMat’l Gain
6823 Scrap Reconciliation
6830 Mat’l Cnsm-RMat’l Gai
6850 Mat’l Cnsm-WIP Gain/L
6850 Mat’l Cnsm-WIP Gain/L
6860 Mat’l Cnsm-WIP Gain/Lo
6870 Subcontract Work
6870 Subcontract Work
6880 Inbound Freight & Insu
6890 Import Duties
6900 Purchase Cash discount
6990 Other Material Costs
6600 Cost Variances
Total Revenue
7000 Total Expenses
7100 Wages
7105 Salaries
7110 Salaries -Overtime
7120 Direct Labor – Plant
7125 Direct Labor-Shift Di
7130 Direct Labor -Overtim
7135 Direct Labor – Vac. &
7140 Indirect Labor – Plan
7145 Indirect Labor -Shift
7150 Indirect Labor – Over
7155 Indirect Labor – Vac.
7160 Maintenance Labor
7165 Maintenacne Labor-Shi
7170 Maintenance Labor – O
7175 Mainten. Labor- Vac.&
7180 Bonus Expenses
7100 Wages
7200 Fringe Benefits
7205 Salary Payroll Tax
7210 Direct Hourly Payroll
7215 Indirect Payroll Tax
7220 Maintenance Payroll T
7225 Salary -Benefits
7230 Direct Labor – Benefi
7235 Indirect Labor- Benef
7240 Maintenance Labor-Ben
7263 Health Ins. Co-Pay
7265 Salary Severance
7270 Direct Labor -Pension
7275 Indirect Labor-Pensio
7280 Maintenance Labor-Pen
7285 Salary -Pension
7200 Fringe Benefits
7300 Temporary Wages
7310 Temporary Salaries &
7300 Temporary Wages
7400 Travel & Living Expens
7410 Air / Rail Fares
7420 Meals
7430 Lodging
7440 Car Rental
7450 Entertainment
7460 Vehicle Expense
7470 Misc. T&L Expenses
7400 Travel & Living Expens
7500 Personnel Expenses
7510 Hiring Expenses
7520 Relocation Expense
7530 Other Personnel Expen
7540 Memberships
7550 Training & Education
7570 Contribution
7500 Personnel Expenses
7600 Sales & Marketing
7610 Advertising
7630 Trade Shows
7640 Commissions
7670 Rent- Warehouse
7680 Samples Issued to Sal
7690 Freight on Invoices 7600 Sales & Marketing
8000 Manufacturing Expenses
8005 Tools
8010 Spare Parts
8015 Experimental/Test Mat
8025 Roll Regrinding & Rew
8030 Non-Capital Equipment
8035 Electric
8040 Natural Gas & Liquid
8042 Waste Disposal
8045 Process Gases
8050 Water & Sewer
8055 Capital Transfers
8060 CPAR Expense
8065 Depreciation Expense
8070 Freight – Inbound
8075 Freight – Outbound
8080 Packaging Mat’l Expen
8083 Spool Expense
8085 Gen’l supplies – Fire
8090 Testing Fees
8092 Outside Services
8093 Outside SRVC-Ingot Pr
8095 Auxiliary Materials
8100 General Supplies
8105 Graphite / Aquadaq
8110 Chemical – Caustic So
8115 Chem – Muriatic/ Nitr
8120 Chemicals – Lubricant
8125 Bearings
8130 Cutting Wheels
8135 Repair Materials
8140 Outside Repairs
8142 Repair&Maint.-Bldg.
8143 Repair&Maint.- Equip.
8145 Dies
8150 Die Regrinding & Rewo
8155 Kanban Tooling Suppli
8160 Kanban Electrical Sup
8165 Kanban Plumbing Suppl
8180 Misc. Expenses
8185 Misc. Recovery
8000 Manufacturing Expenses
8200 MIS
8205 Telephone & Telefax
8210 Telephone Service
8215 Other Telephone
8245 Mobile Telephone
8250 Web Expenses
8255 Network
8260 Computer Support
8270 Computer Supplies
8200 MIS
8300 Professional Service E
8310 Legal Service
8320 Professional Services
8340 Other Professional Se
8350 Consultant Fees
8360 Dun & Bradstreet Fees
8370 Payroll Fees (ADP)
8300 Professional Service E
8400 Administrative Expense
8405 Office & Plant Lease
8410 Equipment Lease
8415 Auto Lease
8425 Uniform Rentals
8430 Franchise Tax Expense
8435 Personal Property Tax
8440 Real Estate Taxes
8445 Insurance Expense
8450 License & Registratio
8455 Security System
8460 Postage
8465 Office Supplies/ Smal
8475 Cleaning Supplies
8500 Dues & Subscriptions
8510 Publications
8525 Collection Agency Fee
8530 Bank Charges and Fees
8535 Bad Debt
8545 Safety Committee Expe
8560 Sales & Use Tax
8570 Other Tax – Tax Disco
8400 Administrative Expense
8970 Allocations to/frm Cst
8970 Allocations to/frm Cst
9000 Other Income and Expen
9100 Interest Income
9120 Misc. Expenses
9170 Closing Expense
9180 Management Fees
9190 Interest Rate Swap
9200 Gain/Loss on Currency
9200 Gain/Loss on Currency
9320 TA Expense
9330 CR Amortization Exp.
9400 Gain/Loss on Disposit
9410 Proceeds from Asset
9420 Net Book Value of As
9400 Gain/Loss on Disposit
9500 Other Expense
9510 Interest Expense
9525 Financing Costs Amor
9500 Other Expense
9000 Other Income and Expen
9700 Provision for Income T
9710 Current Provision fo
9700 Provision for Income T
7000 Total Expenses
Net Income or Loss

Year to Date Actual
$(26,276,476)
$(9,125,505)
$(2,388,790)
$790,423
$385,900
$85,459
$(12,960)
$(9)
$11

% Revenue
4…

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