The question and the T-account is attached, can some one please help me out with the trial balance, everything u need is attached here, please help me with the trial balance please.... ASAP!
Platinum Wish is a small manufacturer of gold and platinum jewelry. It uses a job costing system that allocates overhead on the basis of direct labor-hours. Budgeted factory overhead for the year 2018 is $443,800, and management budgeted 31,700 direct labor- hours. The company's tax rate is 21%. Round taxes to the nearest dollar) The trial balance of Platinum Wish. on June 30 is as follows: $21,800 16,200 Accounts Receivable Finished Goods Work in Process. Materials Prepaid factory Ins Machinery and Equipment. 13,900 7.400 5,000 300,000 S60,000 Accounts Payable 8,900 Common Stock 200,000 Retained Earnings. Total These transactions are to be recorded for July 2018: July 1. Received a 3-year loan from First State Bank, S185,000. 2. Purchased $24,500 of materials on account (Direct materials). 3. Purchased 21 pounds of high-grade polishing materials for cash at S5 per pound (indirect material). 5. Paid factory utility bill, S6,510 in cash. 7. Paid factory rent, S3,000 10. Incurred selling expenses on account, S5,660 11. Requisitioned S18,500 of direct materials and S50 of indirect materials from materials inventory. 13. Declared a cash dividend of $2,000. 15. Paid restructuring costs, $2,350 17. Paid other factory overhead costs, S5,770. 19. Paid administrative expense, $8,500. 25. Accrue the following payroll costs: Direct labor costs 3,550 hours at $30 an hour Indirect labor costs, $29,000 27. Prepaid factory insurance expired, S1,600. 28. Depreciation of office equipment $1,025 and depreciation on factory machinery and equipment, S3,505. entry for me Double check the above 28. Paid payroll costs totaling, $135,000. 28. Incurred research and development expense on account, $3,750. 29. Allocated factory overhead to production on the basis of direct labor- 29. Completed goods costing S 65,000 and transferred them to the finished goods warehouse. Platinum Wish is a small manufacturer of gold and platinum jewelry. It uses a job costing system that allocates overhead on the basis of direct labor-hours. Budgeted factory overhead for the year 2018 is $443,800, and management budgeted 31,700 direct labor- hours. The company's tax rate is 21%. Round taxes to the nearest dollar) The trial balance of Platinum Wish. on June 30 is as follows: $21,800 16,200 Accounts Receivable Finished Goods Work in Process. Materials Prepaid factory Ins Machinery and Equipment. 13,900 7.400 5,000 300,000 S60,000 Accounts Payable 8,900 Common Stock 200,000 Retained Earnings. Total These transactions are to be recorded for July 2018: July 1. Received a 3-year loan from First State Bank, S185,000. 2. Purchased $24,500 of materials on account (Direct materials). 3. Purchased 21 pounds of high-grade polishing materials for cash at S5 per pound (indirect material). 5. Paid factory utility bill, S6,510 in cash. 7. Paid factory rent, S3,000 10. Incurred selling expenses on account, S5,660 11. Requisitioned S18,500 of direct materials and S50 of indirect materials from materials inventory. 13. Declared a cash dividend of $2,000. 15. Paid restructuring costs, $2,350 17. Paid other factory overhead costs, S5,770. 19. Paid administrative expense, $8,500. 25. Accrue the following payroll costs: Direct labor costs 3,550 hours at $30 an hour Indirect labor costs, $29,000 27. Prepaid factory insurance expired, S1,600. 28. Depreciation of office equipment $1,025 and depreciation on factory machinery and equipment, S3,505. entry for me Double check the above 28. Paid payroll costs totaling, $135,000. 28. Incurred research and development expense on account, $3,750. 29. Allocated factory overhead to production on the basis of direct labor- 29. Completed goods costing S 65,000 and transferred them to the finished goods warehouse