No Transaction General Journal Debit Credit ...
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Accounting
No | Transaction | General Journal | Debit | Credit |
1 | a. | Raw materials inventory | 220,000 | |
Accounts payable | 220,000 | |||
2 | b. | Work in process inventory | 131,700 | |
Factory overhead | 21,500 | |||
Raw materials inventory | 153,200 | |||
3 | c. | Factory overhead | 15,500 | |
Cash | 15,500 | |||
4 | d. | Work in process inventory | 103,700 | |
Factory overhead | 25,000 | |||
Cash | 128,700 | |||
5 | e. | Work in process inventory | 179,000 | |
Factory overhead | 179,000 | |||
6 | f. | Finished goods inventory | 359,700 | |
Work in process inventory | 359,700 | |||
7 | g(1). | Accounts receivable | 530,000 | |
Sales | 530,000 | |||
8 | g(2). | Cost of goods sold | 218,900 | |
Finished goods inventory | 218,900 | |||
9 | h. | Factory overhead | 154,000 | |
Accum. depreciationFactory building | 68,000 | |||
Accum. depreciationFactory equipment | 38,000 | |||
Prepaid insurance | 11,000 | |||
Property taxes payable | 37,000 | |||
10 | i. | Work in process inventory | 28,400 | |
Factory overhead | 28,400 |
3. | Prepare T-accounts for each of the following general ledger accounts, each of which started the month with a zero balance: Raw Materials Inventory, Work in Process Inventory, Finished Goods Inventory, Factory Payroll, Factory Overhead, Cost of Goods Sold. Post the journal entries from Part 2 to the following T-accounts |
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