Instructions

A summary of the time tickets for the current month follows:

Job No. Amount

100 $3,860

101 4,300

104 24,500

108 18,600

Indirect 6,340

111 7,120

115 7,400

117 32,000

Journalize the entry on Dec, 31 to record the factory labor costs. Refer to the Charts of Accounts for exact wording of account titles.

Charts of Accounts

General Ledger

ASSETS

110 Cash

121 Accounts Receivable

125 Notes Receivable

126 Interest Receivable

131 Materials

132 Work in Process

133 Factory Overhead

134 Finished Goods

141 Supplies

142 Prepaid Insurance

143 Prepaid Expenses

181 Land

191 Factory

192 Accumulated Depreciation-Factory

LIABILITIES

210 Accounts Payable

221 Utilities Payable

231 Notes Payable

236 Interest Payable

241 Lease Payable

251 Wages Payable

252 Consultant Fees Payable

EQUITY

311 Common Stock

340 Retained Earnings

351 Dividends

390 Income Summary

REVENUE

410 Sales

610 Interest Revenue

EXPENSES

510 Costs of Goods Sold

520 Wages Expense

531 Sellings Expenses

532 Insurance Expense

533 Utilities Expense

534 Office Supplies Expense

540 Admimistrative Expenses

569 Depreciation Expense-Factory

590 Miscellaneous Expense

710 Int

Journal

Journalize the entry on Dec. 31 to record the factory labor costs. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 10

JOURNAL

DATE DESCRIPTION POST. REF. DEBIT CREDIT