Answer Happy

Questions 3 and 4 please
Bergo Bay's accounting system generated the following account balances on December 31. The company's manager knows something is wrong with this list of balances because it does not show any balance for Work in Process Inventory, and the accrued factory payroll (Factory Wages Payable) has not been recorded. Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals Debit $ 68,000 37,000 23,500 0 9,000 3,000 Credit $ 10,600 13,600 30,000 85,000 181,300 113,000 26,000 41,000 $ 320,500 $ 320,500 These six documents must be processed to bring the accounting records up to date. $ 4,800 direct materials to Job 402 Materials requisition 10: Materials requisition 11: Materials requisition 12: Labor time ticket 52: $ 7,800 direct materials to Job 404 $ 1,900 indirect materials $5,000 direct labor to Job 402 Labor time ticket 53: Labor time ticket 54: $ 15,000 direct labor to Job 404 $5,000 indirect labor Jobs 402 and 404 are the only jobs in process at year-end. The predetermined overhead rate is 100% of direct labor cost.
3. Prepare a revised list of account balances as of December 31. Hint: Use the prior year's Retained Earnings balance of $85,000 in this list. Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable BERGO BAY COMPANY List of Account Balances December 31 Factory wages payable Notes payable Common stock Retained earnings (prior year) Sales Cost of goods sold Factory overhead General and administrative expenses Totals $ Debit 0 $ Credit 0
4. Prepare an income statement for the year and a balance sheet as of December 31. Hint: Retained earnings is $99,400 at the end of the current year. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Prepare an income statement. BERGO BAY COMPANY Income Statement For Year Ended December 31 $ Balance Sheet 0 0
Income Statement Balance Sheet Prepare a balance sheet as of December 31. Total assets BERGO BAY COMPANY Balance Sheet As at December 31 Assets Inventories Liabilities $ 0 0
Total liabilities Total equity Total liabilities and equity Equity $ < Income Statement 0 0 0 Balance Sheet