Expand Your Critical Thinking 15-02 a1-a4

In the course of routine checking of all journal entries prior to preparing year-end...

Expand Your Critical Thinking 15-02 a1-a4 In the course of routine checking of all journal entries prior to preparing year-end reports, Betty Eller discovered several strange entries. She recalled that the president's son Joe had come in to help out during an especially busy time and that he had recorded some journal entries. She was relieved that there were only a few of his entries, and even more relieved that he had included rather lengthy explanations. The entries Joe made were: (1) Work in Process Inventory 20,000 Cash 20,000 (This is for materials put into process. I don't find the record that we paid for these, 50 I'm crediting Cash because I know we'll have to pay for them sooner or later.) List Of Accounts CLOSE (2) Manufacturing Overhead 11,500 Cash 11,500 Expand Your Critical Thinking 15-02 al-a4 (This is for bonuses paid to salespeople. I know they're part of overhead, and I can't find an account called " Non-Factory Overhead" or "Other Overhead" so I'm putting it in Accounts Payable Manufacturing Overhead. I have the check stubs, so I know we paid these.) Accounts Receivable Accumulated Depreciation-Buildings (3) Accumulated Depreciation-Equipment Cash Wages Expense 118,000 Cost of Completed Service Contracts Cash 118,000 Cost of Goods Sold Depreciation Expense (This is for the factory workers' wages. I have a note that employer payroll taxes are Employer Fringe Benefits Payable $17,700. I still think that's part of wages expense and that we'll have to pay it all in Employer Payroll Taxes Payable cash sooner or later, so I credited Cash for the wages and the taxes.) Factory Labor Factory Wages Payable (4) Finished Goods Inventory Manufacturing Overhead Work in Process Inventory 4,000 Operating Overhead Raw Materials Inventory 4,000 Prepaid Insurance Prepaid Property Taxes (This is for the glue used in the factory. I know we used this to make the products, Property Taxes Payable even though we didn't use very much on any one of the products. I got it out of Raw Materials Inventory inventory, so I credited an inventory account.) Salaries and Wages Expense Salaries and Wages Paya Sales How should Joe have recorded the first event? (Credit account titles are automatically indented when the amount is el Sales Bonus Expense Service Contracts in Process Account Titles Debit Credit Supplies Utilities Payable Work in Process InventoryHow should Joe have recorded the second event? (Credit account titles are auto Account Titles Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT How should Joe have recorded the third event? (credit account titles are autome Account Titles Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT How should Joe have recorded the fourth event? (credit account titles are autor Account Titles Debit Credit