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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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