LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 income Summary Question not attempted. Accounts for exect wording of account tises -Enteryour amouns in postre valie. 3) Labor usec Orect tabor:Spmang Depatmont 5195,000 3) Depenciaton chered on tued winth Spinno Departwent $12.560 Tuhing Depativent ss, pos tomenno Deparinem $2000 Tutheg Depmunent, 51,000 a) Newestachory overtad Tuarig Depathent 15s,000 Requared: Encer pose amourst in postive vales \begin{tabular}{|c|c|} \hline Frevedoen & 100000 \\ \hline Wasin Prticess Sohning Oepartret & 3060 \\ \hline & 23,500 \\ \hline Uateris & \\ \hline \end{tabular} Lan: I Mentan furchatid on accoune isoo too Cirpelfoding Jutng Decentim st10 000 1) tatior unet infred user-Toting Deparivent, in pos Seming Depantex tresob Throbseateric ic so? 31 becol antect taster nuance CHART OF ACCOUNTS Port Ormond Carpet Company General Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 141 Work in Process-Spinning 142 Work in Process-Tufting 151 Factory Overhead-Spinning 152 Factory Overhead-Tufting 161 Finished Goods 171 Supplies 172 Prepaid Insurance 173 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Supplies Expense 540 Administrative Expenses 561 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 2. Compute the January 31 balances of the inventory accounts. Enter your amounts in positive value, 3. Compute the January 31 balances of the factory overhead accounts. Enter your amounts in pasitive value. F Fecoack F chook My Work Chook, My Work 2. 8.3 Set up t accounts to help determine the balances from the transactions above. LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 income Summary Question not attempted. Accounts for exect wording of account tises -Enteryour amouns in postre valie. 3) Labor usec Orect tabor:Spmang Depatmont 5195,000 3) Depenciaton chered on tued winth Spinno Departwent $12.560 Tuhing Depativent ss, pos tomenno Deparinem $2000 Tutheg Depmunent, 51,000 a) Newestachory overtad Tuarig Depathent 15s,000 Requared: Encer pose amourst in postive vales \begin{tabular}{|c|c|} \hline Frevedoen & 100000 \\ \hline Wasin Prticess Sohning Oepartret & 3060 \\ \hline & 23,500 \\ \hline Uateris & \\ \hline \end{tabular} Lan: I Mentan furchatid on accoune isoo too Cirpelfoding Jutng Decentim st10 000 1) tatior unet infred user-Toting Deparivent, in pos Seming Depantex tresob Throbseateric ic so? 31 becol antect taster nuance CHART OF ACCOUNTS Port Ormond Carpet Company General Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 141 Work in Process-Spinning 142 Work in Process-Tufting 151 Factory Overhead-Spinning 152 Factory Overhead-Tufting 161 Finished Goods 171 Supplies 172 Prepaid Insurance 173 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Supplies Expense 540 Administrative Expenses 561 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 2. Compute the January 31 balances of the inventory accounts. Enter your amounts in positive value, 3. Compute the January 31 balances of the factory overhead accounts. Enter your amounts in pasitive value. F Fecoack F chook My Work Chook, My Work 2. 8.3 Set up t accounts to help determine the balances from the transactions above