1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits: Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts, (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 48. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured. 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a joumal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits belore credits. 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits. 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet The goods cost $830,000 according to their job cost sheets. Notet Enter dnbits before credits. Ending Balance Credit \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline Ending Balance & & \\ \hline \end{tabular} Requlied 1 Required 3 > Prepare journal entries to record the preceding transactions. Post your entries to T-accounts, (Don't forget to enter the beginning inventory balances above.) Prepare a schedule of cost of goods manufactured. A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. AB. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Complete this question by entering your answers in the tabs below. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) Complete this question by entering your answers in the tabs below. Prepare a journal entry to close any balance in the Manufacturing Overhead account to cost of coods 50 ld. Notes: If no entry is required for a transaction/event, select "Wo journal entry required" in the first account field. Journal entry worksheet Record the entry to close any balance in the manufacturing overhead account to cost of goods sold. Notei fnter deben belore aedits. Advertising Expense 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 4567812 The raw materials used in production (all direct materials), $200,000. Note: Enter debats before credits. Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts, (Oon't forget to enter the beginning inventory balances above) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead acco 7 int to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods sold. 1. Prepare journal entries to record the preceding transactions. 2 Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits. Prepare journal entries to record the preceding transactions. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) Prepare a schedule of cost of goods manufactured. 4. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet The depreciation was recorded for the year, $87,000 ( 80% related to factory equipment, and the remainder related to selling and administrative equipment). Note: Enter debits before credits. Froya Fabrikker A/S of Bergen, Norway, manufactures specialty heavy equipment for use in North Sea oil fields. The company uses a job-crder costing system that applies manufacturing overhead cost to jobs based on direct labor-hours. Its predefermined overhead rate was based on a cost formula that estimated $351,500 of manufacturing overhead for an estimated allocation base of 950 direct labor-hours. The following transactions occurred during the year a. Raw materials purchased on account, $215,000 b. Raw materials used in production (all direct materkals). $200,000 c. Utility bills incurted on account, $62,000 p 85% related to factory operabons, and the remainder related to selling and administrative activities). d. Accrued salary and wage costs: e. Maintenance costs incurred on accoumt in the factory, $57,000 1. Advertising costs incurred on account, $139,000. 9. Depreciation recorded for the year, $87,000 (80\%, related to factory equipment, and the remainder related to selling and administrative equipment) h. Rental cost incurred on account, $112,000 (85\%, related to factory facilies, and the remainder related to seling and administrative. facilies) 1. Manufacturing overheod cost applied to jobs, 5 ? i. Cost of ooods manufactured, 5800,000 ic. Sales for the year (all on account) totaled $1,350,000 These goods cost $830,000 according to their job cost sheets. The beginning bolances in the inventory accounts were: Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the begining inventory balances above) 3. Prepare a schedule of cost of poods manufactured AA. Prepare a journal entry to close any balance in the Manufacturing Overtheod account to Cost of Goods 5 old 4B. Prepare a schedule of cost of goods soid. 5. Prepare an income statement. 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet The maintenance costs were incurred on account in the factory, $57,000. Note: Enter debits before credits. 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 7 8 12 The utility bills were inctrred on account, $62,000 (85\% related to factory operations, and the remainder related to selling and administrative activities). Notet enter dethis before credits. Required: 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above) 3. Prepare a schedule of cost of goods manufactured 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement Complete this question by entering your answers in the tabs below. Prepare an income statement. 1. Prepare journal entries to record the preceding transactions. 2. Post your entries to T-accounts. (Don't forget to enter the beginning inventory balances above.) 3. Prepare a schedule of cost of goods manufactured. 4A. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. 4B. Prepare a schedule of cost of goods sold. 5. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the preceding transactions. Notes: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet The salary and wage costs accrued were $245,000 (Direct labor), $93,000 (Indirect labor), $125,000 (Selling and administrative salaries). Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare joumal entries to record the preceding transactions. Notes: If no entry is required for a transactionvevent, solect "No journal entry required" in tho first account field. Journal entry worksheet 3 4 5 67 8 12 The raw materials were purchased for use in production, $215,000 on account. witen Enter sebris belore credits