As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2013, the following tentative trial balance as of December 31, 2012, is prepared by the Accounting Department of Tahiti Blossom Soap Co.:
Accounts Receivable 12,300
Finished Goods 76,700
Work in Process 24,300
Prepaid Expenses 3,400
Plant and Equipment 295,000
Accumulated Depreciation-Plant and Equipment $140,400
accounts payable 59,000
Common Stock, $10 par 210,000
Retained Earnings 256,400
This question was asked on Jul 09, 2011 and answered on Jul 10, 2011.
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