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Selected transactions for Howell Landscaping Ltd are described below: (a) Direct materials of $11,270 are requisitioned for jobs. (b) The company rents a large
Selected transactions for Howell Landscaping Ltd are described below: (a) Direct materials of $11,270 are requisitioned for jobs. (b) The company rents a large area for storing equipment and inventory (e.g. bark, compost, timber, stones, etc.). Rent on the property of $12,500 is recorded as payable. (c) For the period, actual overhead totalled $74,100 and applied overhead totalled $76,800. The difference is closed off to the income statement, not inventory. Note: The company uses job costing. Ignore GST. Required: Prepare journal entries for the selected transactions. Use the answer template below or upload your answer in a Word document. A BIT GO# Howell Landscaping Ltd's General Journal: Date (a) (b) (c) U x2 | x2 Account Names Debit Credit (To record requisition of materials for jobs) (To record an invoice for rent) (To close the overhead control account) Q I 5 3 marks
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