MPB has been in business for many months already. From 1/1/2011 to 1/31/2011, the following occurred: MPB purchased $10,000 in bakery inventory and…

1. MPB has been in business for many months already. From 1/1/2011 to 1/31/2011, the following occurred:

  1. MPB purchased $10,000 in bakery inventory and paid cash to the suppliers. 
  2. MPB sold $15,000 in cupcakes to customers on account (cash payment not expected for a few months); cost of suppliers used is $5,000
  3. MPB recorded bakery equipment depreciation expense of $1,000

2. CMB has been in business for many months already. From 1/1-1/31/2011, the following occurred:

  1. CMB purchased $10,000 in bakery inventory on account to suppliers.
  2. CMB sold $15,000 in cupcakes to customers for cash; cost of suppliers used is $5,000
  3. CMB recorded bakery equipment depreciation expense of $1,000

Required:

a.      a. For each event, provide the required journal entries to record the event. 

b.      b. Prepare the income statements for MPB and CMB from 1/1/2011 to 1/31/2011.

c.       c. Using the indirect method to calculate the cash flows from operations starting from net incomes for MPB and CMB.  

Show more







Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10