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San Diego State University Operations And Supply Chain Management Assignment Help - Financial statements


Question - Excalibur Corporation manufactures and sells video games for personal computers. The unadjusted trial balance as of December 31, 2011, appears below. December 31 is the company's fiscal year-end. The company uses the perpetual inventory system. Account Title Debits Credits Cash 23,300 Accounts receivable 32,500 Allowance for uncollectible accounts 100 Supplies 0 Prepaid rent 0 Inventory 65,000 Equipment 75,000 Accumulated depreciation"equipment 10,000 Accounts payable 26,000 Wages payable 3,000 Note payable 30,000 Common stock 80,000 Retained earnings 16,050 Sales revenue 180,000 Cost of goods sold 95,000 Interest expense 0 Wage expense 32,350 Rent expense 14,000 Supplies expense 2,000 Utility expen ...Read More

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