Acorporation manufactures canoes in two departments, fabrication and waterproofing and uses a weighted-average process cost system to collect costs. the units start in fabrication, are completed in waterproofing, and transferred to the finished goods warehouse. what journal entry should a corporation make to record the completion of the production process by the waterproofing department?

Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of