0 June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers reward their students. Helen Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Collections on account, S150,000 Date Accounts Debit Credit b. Selling and administrative expenses incurred and paid, $22,000 Date Accounts Debit Credit b. Choose from any list or enter any number in the input fields and then continue to the next question. ? c. Payments on account, $35,000 Date Accounts Debit Credit C. d. Materials purchased on credit: Paper, $22,900; indirect materials, $4,900 (Prepare a single journal entry for this event.) Date Accounts Debit Credit d. Choose from any list or enter any number in the input fields and then continue to the next question. e. Materials requisitioned and used in production: Job 120: Paper, $900, Job 121: Paper, $7,750, Indirect materials, $1,400 (Prepare a single journal entry for this event.) Date Accounts Debit Credit e. f. Wages incurred during June, $37,000. Labor time records for the month: Job 120, $3,800; Job 121, $19,200; indirect labor, $14,000 (Prepare a single journal entry for this event.) Date Accounts Debit Credit f. Choose from any list or enter any number in the input fields and then continue to the next question. (Click the icon to view the balances.) g. Wages paid in June include the balance in the Wages Payable account at May 31 plus $34,200 of wages incurred in June. Date Accounts Debit Credit g. h. Depreciation on plant and equipment, $3,300 Date Accounts Debit Credit h. i Manufacturing overhead was allonated at thenrodetermined overhead allonation rate of 500l. of diront lhor neto Choose from any list or enter any number in the input fields and then continue to the next question. i. Manufacturing overhead was allocated at the predetermined overhead allocation rate of 50% of direct labor costs. Date Accounts Debit Credit i. j. Jobs completed during the month: Job 120, 200,000 Large Stars at total cost of $46,100 Date Accounts Debit Credit j. Choose from any list or enter any number in the input fields and then continue to the next question. k. Sales on account: all of Job 120 for $120,000 Begin by recording the revenue from the sales on account. Do not record the expense related to the sale in this journal entry. We will do that in the next step. Date Accounts Debit Credit k. Now record the cost of goods sold related to the sale of all of Job 120. Date Accounts Debit Credit k. Choose from any list or enter any number in the input fields and then continue to the next question. k. Sales on account: all of Job 120 for $120,000 Begin by recording the revenue from the sales on account. Do not record the expense related to the sale in this journal entry. We will do that in the next step. Date Accounts Debit Credit k. Now record the cost of goods sold related to the sale of all of Job 120. Date Accounts Debit Credit k. Choose from any list or enter any number in the input fields and then continue to the next question. I. Adjusted for overallocated or underallocated manufacturing overhead. Date Accounts Debit Credit I. Requirement 2. T-accounts for the general ledger, the Raw Materials Inventory subsidiary ledger, the Work-in-Process Inventory subsidiary ledger, and the Finished Goods Inventory subsidiary ledger have been opened for you along with each account's balance as given. Post the journal entries to the T-accounts using the transaction letters as a reference. Begin with posting the transactions to the general ledger accounts. Key each transaction by transaction letter, and calculate the ending balance of each account. (Post each entry by entering only one debit or credit to each T-account affected by the transaction. For accounts with a zero balance, enter a "0" along with a "Bal." reference on the normal side of the T-account.) Review the journal entries you prepared in Requirement 1. Cash Accounts Receivable Raw Materials Inventory Bal. 22,000 Bal. 185,000 Bal. 5,600 Choose from any list or enter any number in the input fields and then continue to the next question. ? Review the journal entries you prepared in Requiremen Cash Accounts Receivable Raw Materials Inventory Bal. 22,000 Bal. 185,000 Bal. 5,600 Work-in-Process Inventory Finished Goods Inventory Property, Plant, and Equipment Bal. 39,500 Bal. 21,100 Bal. 240,000 Choose from any list or enter any number in the input fields and then continue to the next question. ? Accumulated Depreciation Accounts Payable Wages Payable 77,000 Bal. 130,000 Bal. 1,600 Bal. Common Stock Sales Revenue Retained Earnings 159,600 Bal. 145,000 Bal. Choose from any list or enter any number in the input fields and then continue to the next question. Cost of Goods Sold Manufacturing Overhead Selling and Admin. Expenses Post the transactions to the Raw Materials Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance, "Bal." of each account. (Combine the entries for transaction (e) into one posting.) Paper Indirect Materials Bal. 4,400 Bal. 1,200 Choose from any list or enter any number in the input fields and then continue to the next question. Post the transactions to the Work-in-Process Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance "Bal." of each account. (For accounts with a zero balance, enter a "0" along with a "Bal." reference on the normal side of the T-account.) Job 120 Job 121 Bal. 39,500 Post the transactions to the Finished Goods Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance "Bal." of each account. Large stars Small stars Bal. 9,300 Bal. 11,800 Choose from any list or enter any number in the input fields and then continue to the next question. ? Helen Stars Trial Balance June 30, 2024 Balance Account Title Debit Credit Cash Accounts Receivable Inventories: Raw Materials Work-in-Process Finished Goods Property, Plant and Equipment Accumulated Depreciation Accounts Payable Choose from any list or enter any number in the input fields and then continue to the next question. ? Finished Goods Property, Plant and Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Manufacturing Overhead Selling and Administrative Expenses Total Requirement 4. Use the Work-in-Process Inventory T-account to prepare a schedule of cost of goods manufactured for the month of June. Choose from any list or enter any number in the input fields and then continue to the next question. Yummum "uvmorroir ruuuumiTV uuuuurrr purvu voru vi vuorvi yuvumuru ucuruvi MI TUTTI I vuru. Review the Work-In-Process Inventory general ledger account you prepared in Requirement 2. Helen Stars Schedule of Cost of Goods Manufactured Month Ended June 30, 2024 Cost of Goods Manufactured Choose from any list or enter any number in the input fields and then continue to the next question. ? Helen Stars Income Statement Month Ended June 30, 2024 Cost of Goods Sold Gross Profit Choose from any list or enter any number in the input fields and then continue to the next question. ? O Data Table tars' trial balance on June transactions are summarized as follows: Holen Stars More Info Trial Balance June 1, 2024 Balance Account Title Debit Credit Raw Materials Inventory subsidiary ledger: Paper, $4,400; indirect materials, $1,200 Work-in-Process Inventory subsidiary ledger: Job 120, $39,500; Job 121, $0 Finished Goods Inventory subsidiary ledger: Large Stars, $9,300; Small Stars, $11,800 Cash $ 22,000 Accounts Receivable 185,000 Print Done Inventories: Raw Materials 5,600 Work-in-Process 39,500 21,100 240,000 Finished Goods Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Wades Pavable $ 77,000 130,000 1.600 Print Done o the next question. i More Info a. Collections on account, $150,000. b. Selling and administrative expenses incurred and paid, $22,000. c. Payments on account, $35,000. d. Materials purchased on account: Paper, $22,900; indirect materials, $4,900. e. Materials requisitioned and used in production: $ 900 Job 120: Paper, Job 121: Paper, $ 7,750 Indirect materials, $ 1,400 f. Wages incurred during June, $37,000. Labor time records for the month: Job 120, $3,800; Job 121, $19,200; indirect labor, $14,000. g. Wages paid in June include the balance in the Wages Payable at May 31 plus $34,200 of wages incurred during June. h. Depreciation on plant and equipment, $3,300. i. Manufacturing overhead allocated at the predetermined overhead allocation rate of 50% of direct labor costs. j. Jobs completed during the month: Job 120 with 200,000 Large Stars at a total cost of $46,100. k. Sales on account: all of Job 120 for $120,000. I. Adjusted for overallocated or underallocated manufacturing overhead. Print Done