Problem 104 Part Level Submission The following data were ta

*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

Solution

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