Question
Fromthefollowinginformation, preparejournalentriestodistributetransportationexpenses(ontheaverage rate permilepermonthmethod)andstoresexpenses. Truckmileageduringthemonth: ConstructionWork-in-Progress-Force 2520miles AccountRetirement 960miles OverheadLineExpense(Account583) 360miles Maintenance(Account593) 540miles Total 4380miles Valueofmaterialsissued: ConstructionWork-in-Progress-ForceAccount (107.2) $42,000 Maintenance (593) 2,000 Total $44,000 Transportationexpenses
Fromthefollowinginformation, preparejournalentriestodistributetransportationexpenses(ontheaverage rate permilepermonthmethod)andstoresexpenses.
Truckmileageduringthemonth:
ConstructionWork-in-Progress-Force 2520miles
AccountRetirement 960miles
OverheadLineExpense(Account583) 360miles
Maintenance(Account593) 540miles
Total 4380miles
Valueofmaterialsissued:
ConstructionWork-in-Progress-ForceAccount (107.2) $42,000
Maintenance (593) 2,000
Total $44,000
Transportationexpenses (184.1) $584
Storesexpenses (163) $220
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Journal Entries for Transportation and Stores Expenses Here are the journal entries to distribute tr...
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
ISBN: 978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
