During 2013, Company C, an automobile manufacturer, finished producing 50 trucks, each of which had...
70.2K
Verified Solution
Link Copied!
Question
Accounting
During 2013, Company C, an automobile manufacturer, finished producing 50 trucks, each of which had a manufacturing cost of $20,000 accumulated in Work in Process inventory previously. What would be the entry to record transfer of inventory to Finished Goods?
Accounts
Raw Materials
Work in Process
Finished Goods
Cost of Goods Sold
Amounts
$1,000,000
$1,000,000
$1,500,000
$1,500,000
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.