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What am I doing wrong? The program has notified me that both titles Raw Materials Inventory 670,000 & Finished Goods Inventory: 340,000 are incorrect. Included
What am I doing wrong? The program has notified me that both titles "Raw Materials Inventory 670,000" & "Finished Goods Inventory: 340,000" are incorrect.
Included in the December 31 trial balance of Oriole Company are the following assets. Cash $ 380,000 Work in process $400,000 2,200,000 Accounts Receivables (net) 800,000 Equipment (net) Prepaid insurance Raw materials 82,000 Patents 220.000 670,000 Finished goods 340,000 Prepare the current assets section of the December 31 balance sheet. (List Current Assets in order of liquidity.) ORIOLE COMPANY Balance Sheet (Partial) December 31 Current Assets Cash $ 380,000 Accounts Receivable 800,000 Inventory Raw Materials Inventory $ 670,000 Work-in-Process $400.000 Finished Goods Inventory 340,000 1,410,000 Prepaid insurance 82.000 Total Current Assets $ 2,672,000
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