Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pls help asap! Friedman Company has a production process that involves the processes Units move through the processes in this order cutting stamping, and then
pls help asap!
Friedman Company has a production process that involves the processes Units move through the processes in this order cutting stamping, and then polishing The company had the following transactions in November Cck the icon to view the transactions) Prepare the journal entnes for fedman Company (econd detits tint en creats Excde explanations) 1 Cost of unes completed in the Cutting Department,115.000 Date NOV 30 2 Cost of unts completed in me stamping Department, $24.000 Date NOV 00 Accounts Date NOV 00 3. Cost of units completed in the Polishing Depannen $31.000 Accounts Accounts Date Debi Debit Debit 4 Sales, $120,000 Do not record costs as the will be ancorded in the next step) Accounts Debit Credit Credit Credit Credit CIT Fredran Company has a producin process that noves tece processes Units move through the processes in this order cutting stamping, and then poshing The November (Cick the con to view the fanacions Prepare the pumal ees kyFocomas Company gecond och test, then cos Excute exponations hom penal estes) 3 Cost of unes completed as the Pckshing Depatme $31.000 Accounts Date Nov 20 4Sales, $120,000 Do not recont costs as this will be recorded in the next step) Accounts Date Nov 30 Cost of goods sold is 30% of sales Date Nov 30 Debid Accounts Debit Desi 199 Creat Crea Crea The company had the following transa transactions in artment, $31.000 ints als will be recorded counts ccounts More info 1. Cost of units completed in the Cutting Department, $15,000 2. 3. Cost of units completed in the Stamping Department, $24,000 Cost of units completed in the Polishing Department. $31.000 Sales on account, $120,000 5 Cost of goods sold is 30% of sales 4 Debit Print Credit Done - X 1 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started