30)

To recognize indirect and direct factory labor cost for the month, an entry is made

(2pts)

debiting Payroll Expense, debiting Work in Process, and crediting Factory Overhead.

debiting Work in Process, debiting Factory Overhead, and crediting Payroll Expense.

debiting Work in Process, debiting Factory Overhead, and crediting Wages Payable.

debiting Factory Overhead, debiting Payroll Expense, and crediting Accounts Payable.

31)

Bond Interest Payable is reported as a(n)

(2pts)

current liability on the income statement.

current liability on the balance sheet.

adjunct-liability on the balance sheet.

contra-liability on the income statement.

32)

A bond issue of $500,000 selling at 100, would require a journal entry including a

(2pts)

credit to Cash of $500,000.

credit to Premium on Bonds Payable for $500,000.

credit to Bonds Payable of $500,000.

debit to Bonds Payable of $500,000.

33)

To apply factory overhead to work in process, an entry is made

(2pts)

debiting Factory Overhead and crediting Work in Process.

debiting Work in Process and crediting Factory Overhead.

debiting Cost of Goods Sold and crediting Work in Process.

debiting Factory Overhead and crediting Cost of Goods Sold.