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During April, Cavy Company incurred factory overhead as follows: Required: Record the entry for factory overhead incurred during April. Refer to the chart of accounts
During April, Cavy Company incurred factory overhead as follows: Required: Record the entry for factory overhead incurred during April. 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. For grading purposes, use April 30 for entry that would have been made during April. CHART OF ACCOUNTS Cavy Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 131 Materials 133 Work in Process EXPENSES 135 Factory Overhead 510 Cost of Goods Sold 137 Finished Goods 520 Wages Expense 141 Supplies 531 Insurance Expense 142 Prepaid Expenses 532 Utilities Expense 181 Land 533 Office Supplies Expense 190 Factory Equipment 560 Depreciation Expense 191 Accumulated Depreciation 590 Miscellaneous Expense 192 Small Tools 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 251 Wages Payable 252 Equipment Rental Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary Record the entry for factory overhead incurred during April. 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. For grading purposes, use April 30 for entry that would have been made during April
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