Solution-Find the annual fiscal period ends on december

Find the annual fiscal period ends on december

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Reference no: EM13857408

Tungsten Company, Inc., sells heavy construction equipment. There are 10,000 shares of capital stock outstanding. Find the annual fiscal period ends on December 31. The following condensed trial balance was taken from the general ledger on December 31, 2014:

Account Titles	Debit		Credit
Cash	$	33,600
Accounts receivable (net)		14,400
Inventory, ending		52,000
Operational assets		40,000
Accumulated depreciation			$	16,800
Liabilities				24,000
Capital stock				72,000
Retained earnings, January 1, 2014				9,280
Sales revenue				147,100
Sales returns and allowances		5,600
Cost of goods sold		78,400
Selling expense		14,100
Administrative expense		15,400
Bad debt expense		1,600
Sales discounts		6,400
Income tax expense		7,680
Totals	$	269,180	$	269,180

Reference no: EM13857408

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Find the annual fiscal period ends on december : Tungsten Company, Inc., sells heavy construction equipment. There are 10,000 shares of capital stock outstanding. Find the annual fiscal period ends on December 31.

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Find the annual fiscal period ends on december

Reference no: EM13857408

Reference no: EM13857408

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