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Satish Mish > Acc Homework: Chapter 17 Sample Homework Score: 0.24 of 1 pt Menu 4 of 4 (4 complete) HW P17-32A (similar to) nment mewo June transactions are summarized as follows: Click the icon to view the transactions Avery Stars produces stars for elementary teachers to reward their students. Avery 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.) a Quiz Read the requirements Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Exclude explanations from any pum a. Collections on account, $152,000 Debit Credit Date Accounts 152.000 a. 152.000 Cash Accounts Receivable Data Table ary - X Owl Jlow ns.) nce Ers .) Avery Stars Trial Balance June 1, 2018 tion Balance jour Account Title Debit Credit Cash 25,000 188,000 Accounts Receivable Inventories: ble Raw Materials Work-in-Process 5,500 41,500 21,500 250,000 Finished Goods ind Property, Plant, and Equipment Accumulated Depreciation 78,000 Account Davabla 1270 mbe Print Done 994 Data Table er elementary June 1 follow e trial balance Hiary ledgers balances.) llows ns.) Raw Materiais 5,500 41,500 e transaction Work-in-Process Finished Goods Property. Plant, and Equipment Accumulated Depreciation Accounts Payable 21,500 250,000 52.000 journal entri 78,000 127,000 Wages Payable Common Stock 2,500 Receivable 147,000 Retained Earnings 177.000 Sales Revenue 0 Cost of Goods Sold expenses ind Manufacturing Overhead 0 Selling and Administrative Expenses 0 Total 531,500 $ 531,500 any numbe Print Done Fin o y Ulals lilal bale Click the icon to 1 balances in th Click the icon to a. Collections on account, $152,000. b. Selling and administrative expenses incurred and paid, $33,000. c. Payments on account, $45,000. d. Materials purchased on account: Paper, $22,900; indirect materials, $5,100. Materials requisitioned and used in production: uirement 1. Jou e. Ollections on acc Date a. Cag f. Job 120: Paper, $ 700 Job 121: Paper, $ 7,750 Indirect materials, $ 1,900 Wages incurred during June, $43,000. Labor time records for the month Job 120, $4,500; Job 121. $16,600; indirect labor, $21,900. g. Wages paid in June include the balance in the Wages Payable at May 31 plus $39.900 of wages incurred during June. h. Depreciation on plant and equipment, $2,600. i. Manufacturing overhead allocated at the predetermined overhead allocation rate of 90% of direct labor costs j. Jobs completed during the month Job 120 with 900,000 Large Stars at a total cost of $50,750. Coloc on Rount all of loh 100 for 0105.000 elling and admin Date ose from any list Print Done arts emaining More Info uestior -X c. Payments on account, $45,000. d. Materials purchased on account: Paper, $22,900; indirect materials, $5,100. Materials requisitioned and used in production: e. Job 120: Paper, $ 700 Job 121: Paper $ 7,750 Indirect materials, $ 1,900 f. Wages incurred during June, $43,000. Labor time records for the month: Job 120, $4,500; Job 121, $16,600; indirect labor, $21,900. g. Wages paid in June include the balance in the Wages Payable at May 31 plus $39,900 of wages incurred during June. h. Depreciation on plant and equipment, $2,600. i. Manufacturing overhead allocated at the predetermined overhead allocation rate of 90% of direct labor costs. j. Jobs completed during the month: Job 120 with 900,000 Large Stars at a total cost of $50,750. k. Sales on account: all of Job 120 for $105,000. I. Adjusted for overallocated or underallocated manufacturing overhead. Print Done Check Question Hel Il elementary teachers to reward their students on June 1 follows: the trial balance.) bsidiary ledgers were as follows: w the balance June transactions are summarized as follows: Click the icon to view the transactions.) Read the requirements * More Info ze the trans hal entries.) . $152.000 Raw Materials Inventory subsidiary ledger: Paper, $4,800; indirect materials $700 Work-in-Process Inventory subsidiary ledger: Job 120.541,500; Job 121. $0 Finished Goods Inventory subsidiary ledger: Large Stars, $8,900; Small Stars. $12,600 ounts Recei Print Done ative expense Accounts Debit Credit enter any number in the input fields and then click Check Answer. Final Check Clear All O 99