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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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