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Hi. I asked this homework on chegg but it did not help me correct my homework attempt. Thats why i am posting this question again
Hi. I asked this homework on chegg but it did not help me correct my homework attempt. Thats why i am posting this question again for correct answer. This is what i did for the JOURNAL, i am doing something wrong please correct it for me. I did it a few times and there's the end part where I'm doing some mistake.
Instructions Journal Shaded cells have feedback. X 18 Oct. 31 Work in Process 373,200.00 19 Factory Overhead 373,200.00 1 20 Oct. 31 Finished Goods 966,650.00 1 21 Work in Process 966,650.00 22 Oct 31. Factory Overhead 373,200.00 1 23 Finished Goods 373,200.00 24 Work in Process 966,650.00 1 25 Oct. 31 Cost of Goods Sold 848,470.00 1 26 Finished Goods 848,470.00 Points: 58.54 / 61 Feedback Check My Work Instructions Barnes Company uses a job order cost system. The following data summarize the operations related to production for October: October 1 Materials purchased on account, $645,190. 2 Materials requisitioned, $642,250, of which $72,680 was for general factory use. 31 Factory labor used, $631,920, of which $91,350 was indirect. 31 Other costs incurred on account for factory overhead, $153,030; selling expenses, $228,490; and administrative expenses, $150,890. Prepaid expenses expired for factory overhead were $29,630; for selling expenses, $26,950, and for 31 administrative expenses, $17,150. 31 Depreciation of office building was $88,610; of office equipment, $42,970, and of factory equipment, $31,120 31 Factory overhead costs applied to jobs, $373,200. 31 Jobs completed, $966,650. 31 Cost of goods sold, $848,470. Required: Chart of Accounts CHART OF ACCOUNTS Barnes Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable EXPENSES 131 Materials 510 Cost of Goods Sold 132 ork in cess 520 Wages Expense 133 Factory Overhead 531 Selling Expenses 532 Insurance Expense 134 Finished Goods 141 Supplies 533 Utilities Expense 440 Dronaid ILASSA 534 Office Sunnlies Eynense Instructions Chart of Accounts ! Journal Chart of Accounts 134 Finished GUOUS VUL MIUIUMCU LAPIS 141 Supplies 533 Utilities Expense 142 Prepaid Insurance 534 Office Supplies Expense 143 Prepaid Expenses 540 Administrative Expenses 181 Office Building 561 Depreciation Expense-Office Building 191 Office Equipment 562 Depreciation Expense-Office Equipment 192 Accumulated Depreciation-Buildings and Equipment 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 Entries for costs in a job order cost system Instructions Chart of Accounts Journal Journal Shaded cells have feedback. All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. PAGE 10 JOURNAL Score: 293/322 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Oct. 1 Materials 645,190.00 1 2 Accounts Payable 645,190.00 3 Oct. 2 Factory Overhead 72,680.00 4 Work in Process 569,570.00 1 5 Materials 642,250.00 6 Oct. 31 Factory Overhead 153.030.00 7 228,490.00 1 Selling Expenses Administrative Expenses 8 150,890.00 1 9 Accounts Payable 532,410.00 10 Oct. 31 Factory Overhead 29,630.00 1 Check My Work Previous Next Journal Shaded cells have feedback. 9 Accounts Payable 532.410.00 1 10 Oct. 31 Factory Overhead 29,630.00 1 11 26,950.00 1 Selling Expenses Administrative Expenses 12 17,150.00 1 13 73,730.00 F 14 Oct. 31 88,610.00 15 Prepaid Expenses Depreciation Expense-Office Building Depreciation Expense-Office Equipment Factory Overhead Accumulated Depreciation Buildings and Equipment 42,970.00 1 16 31,120.00 1 17 162,700.00 1 18 Oct. 31 Work in Process 373,200.00 1 19 Factory Overhead 373,200.00 20 Oct. 31 Finished Goods 966,650.00 1 21 Work in Process 966,650.00 1 22 Oct. 31 Factory Overhead Instructions X Journal Shaded cells have feedb ULI vepreciation Expense-olice Burung 00,010.00 15 Depreciation Expense-Office Equipment 42,970.00 1 16 Factory Overhead 31,120.00 1 17 Accumulated Depreciation Buildings and Equipment 162,700.00 1 18 Oct. 31 Work in Process 373,200.00 19 Factory Overhead 373,200.00 1 20 Oct. 31 Finished Goods 966,650.00 1 21 Work in Process 966,650.00 1 22 Oct 31 Factory Overhead 373,200.00 1 23 373,200.00 24 Work in Process 966,650.00 1 25 Oct. 31 Cost of Goods Sold 848,470.00 26 Finished Goods 848,470.00Step by Step Solution
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