A summary of the time tickets is as follows Job No Amount 100 $ 3,940 101 4,480 104 22,080 108 15,570 Indirect 6,130 111 7,120 115 7,960 117 30,690 Required Journalize the entry on Dec 31 to record the factory labor costs Refer to the chart of accounts for the exact wording of the account titles CNOW journals do not use lines for spaces or journal explanations Every line on a journal page is used for debit or credit entries Do not add explanations or skip a line between journal entries CNOW journals will automatically indent a credit entry when a credit amount is entered CHART OF ACCOUNTSGeneral Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation Factory LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 569 Depreciation Expense Factory 590 Miscellaneous Expense 710 Interest Expense

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Posted on Sep 14, 2024

A summary of the time tickets is as follows: Job No. Amount 100 $ 3,940 101 4,480 104 22,080 108 15,570 Indirect 6,130 111 7,120

A summary of the time tickets is as follows:

Job No.	Amount
100	$ 3,940
101	4,480
104	22,080
108	15,570
Indirect	6,130
111	7,120
115	7,960
117	30,690

Required:

Journalize the entry on Dec. 31 to record the factory labor costs. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

CHART OF ACCOUNTSGeneral Ledger

	ASSETS
110	Cash
121	Accounts Receivable
125	Notes Receivable
126	Interest Receivable
131	Materials
132	Work in Process
133	Factory Overhead
134	Finished Goods
141	Supplies
142	Prepaid Insurance
143	Prepaid Expenses
181	Land
191	Factory
192	Accumulated Depreciation-Factory

	LIABILITIES
210	Accounts Payable
221	Utilities Payable
231	Notes Payable
236	Interest Payable
241	Lease Payable
251	Wages Payable
252	Consultant Fees Payable

	EQUITY
311	Common Stock
340	Retained Earnings
351	Dividends
390	Income Summary

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Goods Sold
520	Wages Expense
531	Selling Expenses
532	Insurance Expense
533	Utilities Expense
534	Office Supplies Expense
540	Administrative Expenses
569	Depreciation Expense-Factory
590	Miscellaneous Expense
710	Interest Expense