CHART OF ACCOUNTS

Collegiate Publishing Inc.

General 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

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

$560$ Depreciation Expense$-$Factory

$590$ Miscellaneous Expense

$710$ Interest Expense

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 Journalize the Mar. $31$ summary entries to record each of the following operations for March $($one entry for each operation$).$ Refer to the chart of

accounts for the exact wording of the account titles. CNOW joumals 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 skjp a line between joumal entries. CNOW journals will automatically indent a

credit entry when a credit amount is entered.

a$.$ Direct and indirect materials used.

b$.$ Direct and indirect labor used.

c$.$ Factory overhead applied to all four jobs $($a single overhead rate is used based on direct labor cost$).$

d$.$ Completion of Jobs $301$ and $302$Required:

Joumalize the Mar $31$ summary entries to record each of the following operations for March $($one entry for each operation$).$ Refer to the chart of

accounts for the exact wording of the account titles. CNOW joumals 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 joumal entries. CNOW journals will automatically indent a

credit entry when a credit amount is entered.

a$.$ Direct and indirect materials used.

b$.$ Direct and indirect labor used.

c$.$ Factory overhead applied to all four jobs $($a single overhead rate is used based on divect labor cost$).$

d$.$ Completion of Jobs $301$ and $302$