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..

  
 

Lone Stars produces stars for elementary teachers to reward their students. Lone Stars' trial balance on June 1 follows: E (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: 6 (Click the icon to view the balances.) Review the journal entries you prepared in Reguirement 1. Cash Accounts Receivable Raw Materials Inventory Bal. 17,000 Bal. 175,000 Bal. 5,500 Work-in-Process Inventory Finished Goods Inventory Plant Assets Bal. 42,500 Bal. 20,200 Bal. 200,000 Accumulated Depreciation Accounts Payable Wages Payable 73,000 Bal. 133,000 Bal. 2,900 Bal. Common Stock Retained Earnings Sales Revenue 138,000 Bal. 113,300 Bal. Cost of Goods Sold Manufacturing Overhead Selling and Admin. Expenses