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The College Of New Jersey Operations And Supply Chain Management Assignment Help - Rey Writer

Question - Farina Bay s computer system generated the following trial balance on December 31, 2013. The company s manager knows something is wrong with the trial balance because it does not show any balance for Goods in Process Inventory but does show balances for the Factory Payroll and Factory Overhead accounts. Debit Credit Cash $ 45,000 Accounts receivable 39,000 Raw materials inventory 24,500 Goods in process inventory 0 Finished goods inventory 9,000 Prepaid rent 3,000 Accounts payable $ 11,100 Notes payable 14,100 Common stock 30,000 Retained earnings 93,000 Sales 162,300 Cost of goods sold 106,000 Factory payroll 18,000 Factory overhead 28,000 Operat ...Read More

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