Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

there are 26 blanks for journal entries but I dont know if you will need to fill all of them. Tarinja Company uses job order

there are 26 blanks for journal entries but I dont know if you will need to fill all of them. image text in transcribed
image text in transcribed
image text in transcribed
Tarinja Company uses job order costing. The following data summarize the operations related to production for May: May 1 Materials purchased on account, $645,190. 2 Materials requisitioned, $642,250, of which $72,680 was for general factory use. 31 Factory labor used, $631,920, of which $91,350 was indirect. 31 Other costs incurred on account for factory overhead, \$153,030; selling expenses, \$228,490; and administrative expenses, $150,890. 31 Prepaid expenses expired for factory overhead were $29,630; for selling expenses, $26,950; and for administrative expenses, $17,150. 31 Depreciation of office building was $88,610; of office equipment, $42,970; and of factory equipment, $31,120. 31 Factory overhead costs applied to jobs, \$373,200. 31 Jobs completed, $966,650. 31 Cost of goods sold, $848,470. Required: Chart of Accounts General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable EXPENSES 131 Materials 510 Cost of Goods Sold 132 Work in Process 520 Wages Expense 133 Factory Overhead 531 Selling Expenses 134 Finished Goods 532 Insurance Expense 141 Supplies 533 Utilities Expense 142 Prepaid Insurance 534 Office Supplies Expense 143 Prepaid Expenses 540 Administrative Expenses 181 Office Building 561 Depreciation Expense-Office Building . 191 Office Equipment 562 Depreciation Expense-Office Equipment 192 Accumulated Depreciation-Buildings and Equipment 590 Miscellaneous Expense 710 Interest Expense General Joumal RACE 10 JOURNAL ACCOUNTIIC EqUATION oEsCRIPTION post. nef. DeBit casoit AsreTs Laasunes fquiry Check My Work Previous

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Workbook

Authors: Azhar Ul Haque Sario

1st Edition

B0C9SG1YC6, 979-8851207891

More Books

Students also viewed these Accounting questions