In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $20,000 and Job 11 $30,000.

Question:

In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $20,000 and Job 11 $30,000. On March 31, Job 10 is sold to the customer for $35,000 in cash. Journalize the entries for the completion of the two jobs and the sale of Job 10.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

See More Books

Question Posted: Mar 02, 2012 12:27 AM

See More Questions

In March, Hollaway Company completes Jobs 10 and 11. Job 10 cost $25,000 and Job 11 $30,000. On March 31, Job 10 is sold to the customer for $35,000 in cash. Journalize the entries for the completion...
In March, Samani Company completes Jobs 10 and 11. Job 10 cost $25,000 and Job 11 $30,000. On March 31, Job 10 is sold to the customer for $35,000 in cash. Journalize the entries for the completion...
In March, Coldplay Company completes Jobs 10 and 11. Job 10 cost $25,000 and Job 11 $30,000. On March 31, Job 10 is sold to the customer for $35,000 in cash. Journalize the entries for the completion...
The SEC Form 10-K of Google is reproduced online at www.wiley.com/college/pratt. REQUIRED: Review the Google 2012 SEC Form 10-K, and answer the following questions: a. Compute Googles long-term debt...
The general ledger of Red Storm Cleaners at January 1, 2012, includes the following account balances: The following is a summary of the transactions for the year: a. Sales of services, $50,000, of...
The International Olympic Committee (IOC) started an investigation into allegations that Olympic officials from various countries offered to sell tickets for events at the London Olympic Games at...
Can a binomial distribution with parameters n = 10 and p = .1 be well approximated by a normal distribution? LO8
Krohn Company is producing an exception report. One division had $47,500 in budgeted costs, but it actually spent $45,000. How would this variance appear on the exception report?
4 To survive and prosper an organisation must not only remain profitable, it also must be able to achieve positive cash flows. Which of the following statements regarding source documents in a...
Your senior auditor instructed you to prepare a four-column proof of cash receipts and disbursements for the month of August 2014. The bank reconciliation prepared by FAILNOT Company at July 31 is...
During the first quarter, Roland Company incurs the following direct labor costs: January $40,000, February $30,000, and March $50,000. For each month, prepare the entry to assign overhead to...
At December 31, balances in Manufacturing Overhead are: Shimeca Companydebit $1,200, Garcia Companycredit $900. Prepare the adjusting entry for each company at December 31, assuming the adjustment is...
CRB's Cabinet Company builds kitchen cabinets. On November 1, 2016, two jobs, Job 045 and Job 048, were in progress. The order is from Grace Apartments and was begun on October 5, 2016. The...
For each of the following independent situations, state whether the following accounting practices are in accordance with or in violation of generally accepted accounting principles. Identify the...
Feather Friends, Incorporated, distributes a high-quality wooden birdhouse that sells for $120 per unit. Variable expenses are $60.00 per unit, and fixed expenses total $200,000 per year. Its...
How much is the over/underapplied FOH? (PLASTIC PRODUCTS) A company manufactures plastic products for the home and restaurant market. The company also does contract work for other customers and...
In the circuit below, identify how the resistors are connected and then identify the quantity that must always be the same for these resistors.
Consider two firms that operate in a perfectly competitive market. While producing their products, these firms generate pollution. Assume that it is possible to reduce pollution by adopting an...
Why are variances typically isolated as soon as possible? 52
Why is the national security argument for tariffs questionable?
A venture capital fund will typically invest in which stage of a businesss development? a. Early stage b. Middle stage c. Late stage d. None of the above.
Information regarding many approaches to budgeting can be found on the Web. The following activity investigates the merits of zero-based budgeting, as discussed by Michael LaFaive, Director of...
Information regarding many approaches to budgeting can be found on the Web. The following activity investigates the merits of zero-based budgeting, as discussed by Michael LaFaive, Director of...
In order to better serve their rural patients, Drs. Joe and Rick Parcells (brothers) began giving safety seminars. Especially popular were their emergency-preparedness talks given to farmers. Many...
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments --Molding and Fabrication. It started, completed, and...
Horizontal Analysis The comparative accounts payable and long-term debt balances of a company are provided below. Current Year Previous Year Accounts payable $47,286 $63,900 Long-term debt 85,492...
On January 1, Year 1, Price Company issued $140,000 of five-year, 7 percent bonds at 97. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Record...

In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $20,000 and Job 11 $30,000.

Question:

Step by Step Answer:

Mar 31 Finished Goods Inventory 50000 Work in Pr...View the full answer

Accounting Principles

Students also viewed these Managerial Accounting questions