Helen Stars Trial Balance Accounting Help

June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, Data Table Requirement 1. Journalize the transacti More Info a. Collections on account, $151,000 Helen Stars Trial Balance Date June 1, 2018 a. Raw Materials Inventory subsidiary ledger: Paper, $4,900; indirect materials, $400 Work-in-Process Inventory subsidiary ledger: Job 120, $43,000; Job 121, $0 Finished Goods Inventory subsidiary ledger: Large Stars, $9,600; Small Stars, $10,400 Balance Account Title Debit Credit Cash $ 25,000 Print Accounts Receivable 188,000 More Info Inventories: Raw Materials 5,300 Work-in-Process 43,000 Finished Goods 20,000 a. Collections on account, $151,000. b. Selling and administrative expenses incurred and paid, $24,000. c. Payments on account, $43,000. d. Materials purchased on account: Paper, $20,000; indirect materials, $5,000. e. Materials requisitioned and used in production: 250,000 $ 78,000 Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock 129,000 1,700 141,000 Retained Earnings 181,600 Job 120: Paper, $ 900 Job 121: Paper, $ 7,700 Indirect materials, $ 1,700 f. Wages incurred during June, $40,000. Labor time records for the month Job 120, $4,250; Job 121, $17,250; indirect labor, $18,500 g. Wages paid in June include the balance in the Wages Payable at May 31 plus $38,700 of wages incurred during June. h. Depreciation on plant and equipment, $2,600. i. Manufacturing overhead allocated at the predetermined overhead allocation rate of 80% of direct labor costs. j. Jobs completed during the month: Job 120 with 600,000 Large Stars at a total cost of $51,550. k. Sales on account: all of Job 120 for $125,000. I. Adjusted for overallocated or underallocated manufacturing overhead. Sales Revenue 0 Cost of Goods Sold 0 Manufacturing Overhead 0 0 Selling and Administrative Expenses Duit June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: A (Click the icon to view the balances.) Read the requirements, Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Collections on account, $151,000 Date Accounts Debit Credit a. b. Selling and administrative expenses incurred and paid, $24,000 Date Accounts Debit Credit b. c. Payments on account, $43,000 Date Accounts Debit Credit c. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, d. Materials purchased on credit: Paper, $20,000; indirect materials, $5,000 (Prepare a single journal entry for this event.) Date Accounts Debit Credit d. e. Materials requisitioned and used in production: Job 120: Paper, $900, Job 121: Paper, $7,700, Indirect materials, $1,700 (Prepare a single journal entry for this event.) Date Accounts Debit Credit f. Wages incurred during June, $40,000. Labor time records for the month: Job 120, $4,250; Job 121, $17,250; indirect labor, $18,500 (Prepare a single journal entry for this event.) Date Accounts Debit Credit f. g. Wages paid in June include the balance in the Wages Payable account at May 31 plus $38,700 of wages incurred in June. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, g. Wages paid in June include the balance in the Wages Payable account at May 31 plus $38,700 of wages incurred in June. Date Accounts Debit Credit g h. Depreciation on plant and equipment, $2,600 Date Accounts Debit Credit h. i. Manufacturing overhead was allocated at the predetermined overhead allocation rate of 80% of direct labor costs. Date Accounts Debit Credit i. j. Jobs completed during the month: Job 120, 600,000 Large Stars at total cost of $51,550 Choose from any list or enter any number in the input fields and then continue to the next question. ? June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, j. Jobs completed during the month: Job 120, 600,000 Large Stars at total cost of $51,550 Date Accounts Debit Credit ji k. Sales on account: all of Job 120 for $125,000 Begin by recording the revenue from the sales on account. Do not record the expense related to the sale in this journal entry. We will do that in the next step. Date Accounts Debit Credit k. Now record the cost of goods sold related to the sale of all of Job 120. Date Accounts Debit Credit k. Choose from any list or enter any number in the input fields and then continue to the next question. ? June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) 1. Adjusted for overallocated or underallocated manufacturing overhead. Read the requirements. Date Accounts Debit Credit 1. Requirement 2. 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. Cash Accounts Receivable Raw Materials Inventory Bal. 25,000 Bal. 188,000 Bal. 5,300 Work-in-Process Inventory Finished Goods Inventory Property, Plant, and Equipment Bal. 250,000 Bal 43,000 Bal 20,000 Choose from any list or enter any number in the input fields and then continue to the next question. ? June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, Cash Accounts Receivable Raw Materials Inventory 5,300 Bal. 25,000 Bal. 188,000 Bal. Work-in-Process Inventory Finished Goods Inventory Property, Plant, and Equipment Bal 43,000 Bal. 20,000 Bal. 250,000 Accumulated Depreciation Wages Payable Accounts Payable 129,000 Bal. 78,000 Bal. 1,700 Bal. Choose from any list or enter any number in the input fields and then continue to the next question. ? June transactions are summarized as follows: A (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: A(Click the icon to view the balances.) Read the requirements, Common Stock Retained Earnings Sales Revenue 141,000 Bal. 181,600 Bal. Cost of Goods Sold Manufacturing Overhead Selling and Admin. Expenses Post the transactions to the Raw Materials Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance, "Bal." of each account. (Combine the entries for transaction (e) into one posting.) Paper Indirect Materials Bal. 4.900 Ball 400 Daet the transactions to the World in Dracco Inventar onheidian ladner annuinte Kawach rancantinn hur transaction letter and collate the endine holanna Dolof each annaint Carrinte with rare holanca anterolans with Choose from any list or enter any number in the input fields and then continue to the next question. ? June transactions are summarized as follows: A (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: A(Click the icon to view the balances.) Read the requirements, Common Stock Retained Earnings Sales Revenue 141,000 Bal. 181,600 Bal. Cost of Goods Sold Manufacturing Overhead Selling and Admin. Expenses Post the transactions to the Raw Materials Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance, "Bal." of each account. (Combine the entries for transaction (e) into one posting.) Paper Indirect Materials Bal. 4.900 Ball 400 Daet the transactions to the World in Dracco Inventar onheidian ladner annuinte Kawach rancantinn hur transaction letter and collate the endine holanna Dolof each annaint Carrinte with rare holanca anterolans with Choose from any list or enter any number in the input fields and then continue to the next question. ? Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: June transactions are summarized as follows: Click the icon to view the trial balance.) (Click the icon to view the transactions.) June 1 balances in the subsidiary ledgers were as follows: Read the requirements, (Click the icon to view the balances.) Post the transactions to the Work-in-Process Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance "Bal" of each account. (For accounts with a zero balance, enter a "0" along with a "Bal." reference on the normal side of the T-account.) Job 120 Job 121 Bal. 43,000 Post the transactions to the Finished Goods Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance "Bal." of each account. Small stars Large stars 9,600 Bal. Bal. 10,400 Requirement 3. Prepare a trial balance at June 30, 2018. (Leave both the Debit and Credit column cells blank for accounts with a zero balance at June 30.) Review the general ledger accounts you prepared in Requirement 2. Helen Stars Trial Balance June 30, 2018 Choose from any list or enter any number in the input fields and then continue to the next question. ? June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: A (Click the icon to view the balances.) Read the requirements, Requirement 3. Prepare a trial balance at June 30, 2018. (Leave both the Debit and Credit column cells blank for accounts with a zero balance at June 30.) Review the general ledger accounts you prepared in Requirement 2. Helen Stars Trial Balance June 30, 2018 Balance Account Title Debit Credit Cash Accounts Receivable Inventories: Raw Materials Work-in-Process Finished Goods Property, Plant and Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Choose from any list or enter any number in the input fields and then continue to the next question. ? June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Cost of Goods Sold Manufacturing Overhead Selling and Administrative Expenses Total Requirement 4. Use the Work-in-Process Inventory T-account to prepare a schedule of cost of goods manufactured for the month of June. Review the Work-In-Process Inventory general ledger account you prepared in Requirement 2. Helen Stars Schedule of Cost of Goods Manufactured Month Ended June 30, 2018 Cost of Goods Manufactured Requirement 5. Prepare an income statement for the month of June. Review the trial balance you prepared in Requirement 3. Review the iournal entry for underallocated manufacturing overhead vol prepared in Requirement 1 June transactions are summarized as follows: (Click the icon to view the transactions.) Helen Stars produces stars for elementary teachers to reward their students. Helen Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, Cost of Goods Manufactured Requirement 5. Prepare an income statement for the month of June. Review the trial balance you prepared in Requirement 3. Review the journal entry for underallocated manufacturing overhead you prepared in Requirement 1. Helen Stars Income Statement Month Ended June 30, 2018 Cost of Goods Sold Gross Profit Net Income (Loss)