{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-09T14:49:36-04:00", "answer_date": "2024-06-09 14:49:36", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2519741", "url": "\/study-help\/questions\/the-following-information-applies-to-the-questions-displayed-below-2519741", "question_creation_date_js": "2024-06-09T14:49:36-04:00", "question_creation_date": "Jun 09, 2024 02:49 PM", "meta_title": "[Solved] [ The following information applies to th | SolutionInn", "meta_description": "Answer of - [ The following information applies to the questions displayed below. ] One Product Corporation ( OPC ) incorporated a | SolutionInn", "meta_keywords": "information,applies,questions,displayed,below,one,product,corporation,opc,incorporated,beginning,year", "question_title_h1": "[ The following information applies to the questions displayed below. ] One Product Corporation ( OPC ) incorporated at the beginning of last year. The", "question_title": "[ The following information applies to the questions displayed below. ] One", "question_title_for_js_snippet": " The following information applies to the questions displayed below One Product Corporation ( OPC ) incorporated at the beginning of last year The balances on its post closing trial balance prepared on December 3 1 , at the end of its first year of operations, were table Cash , 2 2 , 0 3 0 , Accounts Receivable, 8 , 3 0 0 , Allowance for Doubtful Accounts, 1 , 0 4 5 , Inventory , 1 2 , 0 6 0 , Prepaid Rent, 1 , 9 2 0 , Equipment , 4 4 , 2 0 0 , Accumulated Depreciation, 4 , 3 2 0 , Accounts Payable, 0 , Sales Tax Payable, 5 0 0 , FICA Payable, 6 0 0 , Withheld Income Taxes Payable, 5 0 0 , Salaries and Wages Payable, 1 , 6 0 0 , Unemployment Tax Payable, 3 0 0 , Deferred Revenue, 4 , 5 0 0 , Interest Payable, 5 3 1 , Notes Payable ( long term ) , 2 3 , 6 0 0 , Common Stock, 1 7 , 9 0 0 , Additional Paid In Capital, Common, 1 9 , 9 7 4 , Retained Earnings, 1 7 , 1 4 0 , Treasury Stock, 4 , 0 0 0 The following information is relevant to the first month of operations in the following year OPC sells its inventory at $ 1 5 0 per unit, plus sales tax of 6 percent OPC's January 1 inventory balance consists of 1 8 0 units at a total cost of $ 1 2 , 0 6 0 OPC's policy is to use the FIFO method, recorded using a perpetual", "question_description": "