Browning Manufacturing Company Case

In: Business and Management

Submitted By thaparnikhil
Words 1571
Pages 7
Assets

Liabilities + Owner's Equity

Cash

Accounts Payable

+
$
118,440 $
$
264,000 $
$ 2,604,000 $
$
$
$
$
$
$
$
$

-

-

144,000
78,000
492,000
198,000
49,200
135,600
522,000
38,400
788,400
9,000
36,000

$

+

788,400 $
$
$

185,760
825,000
66,000

$
788,400 $
Notes Payable

1,076,760

-

+
$
$

288,840
264,000

$
$
Interest on Loans

552,840

-

+
$

$ 2,986,440 $ 2,490,600 $

38,400

495,840
Sales

-

Accounts Receivables

+

-

$
311,760 $
19,200
$ 2,562,000 $
49,200
$ 2,604,000
$ 2,873,760 $ 2,672,400 $
Sales Returns & Allowances

+
$
$

+
$

201,360

2,562,000

$

1,806,624

COGS

-

+

-

19,200
49,200

Discounts

+

Income Taxes Payable

-

-

+

$

Selling & Admin Expense

+
$

9,000

$
$

9,000
58,000

$

9,000 $

67,000

-

522,000
Depreciation Expense

Finished Goods Inventory

+

+

-

$
257,040 $ 1,806,624
$ 1,901,952
Retained Earnings

$ 2,158,992 $ 1,806,624 $
Work in Process Inventory

+

+

36,000 $
$

829,560
68,576

$
36,000 $
Capital Stock

$ 1,901,952

$

898,136

-

$
172,200
$
811,000
$ 1,129,200

352,368

-

+
$

$ 2,112,400 $ 1,901,952 $
Materials

+
$
$
$

110,520 $
825,000
935,520 $

1,512,000

(210,448)

-

-

+

-

+

-

-

+

-

-

+

-

-

+

811,000
811,000 $

124,520

Direct Manufacturing Labor

+
$

-

492,000

Factory Overhead
Indirect Manufacturing Labor

+
$

198,000

Power, heat & light

+
$

135,600

Social Security Taxes

+
$

49,200

Prepaid Taxes & Insurance, factory

+
$
$

-

66,720 $
78,000

52,800

$
144,720 $
Supplies

52,800 $

+
$
$

-

17,280 $
66,000

91,920

61,200

$
83,280 $
Plant &…...

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