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Please number a document with lines 1,2,3,4,5,6,7,8,9,10. Beside each number (1 through 10) write the correct description of the journal entry that corresponds to that
Please number a document with lines 1,2,3,4,5,6,7,8,9,10. Beside each number (1 through 10) write the correct description of the journal entry that corresponds to that number. Example for line 1: Purchased Raw Material Inventory on account.
DEBIT CREDIT 1. Raw Materials AJP 2. WIP Raw Materials 3. FOH Raw Materials 4. WIP Wages Payable 5. FOH Wages Payable 6. FOH Accounts Payable 7. WIP FOH 8. FG 9. COGS 10. AR 10. AR Add Direct Materials Used Add Direct Labor Used Add Factory Overhead Used Then add Beginning WIP Subtract Ending WIP This gives us Cost of Goods Manufactured DM DL FOH Beg WIP (End WIP) COGM This assignment is just a matter of telling what happened in the manufacturing business that mafe the accountant make each of the journal entries.
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