*Problem 10-4 (Part Level Submission) The following data were taken from the rec

Question

*Problem 10-4 (Part Level Submission) The following data were taken from the records of Marigold Company for the fiscal year ended June 30, 2017 Raw Material Inventory 7/1/16 Raw Material Inventory 6/30/17 Finished Goods Inventory 7/1/16 Finished Goods Inventory 6/30/17 Work in Process Inventory 7/1/16 Work in Process Inventory 6/30/17 Direct Labor Indirect Labor Accounts Receivable $58,100 46,600 99,700 21,900 21,200 29,400 147,550 25,360 28,000 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Material Purchases Cash $4,800 17,100 29,400 9,350 560,500 4,700 63,400 9,910 2,500 97,300 39,200

Explanation / Answer

Current assets secton of the balance sheet :

Current assets Cash 39200 Account receivable 28000 Inventories Finished goods 21900 Work in process 29400 Raw material 46600 97900 Total current assets 165100

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