Question
At year-end, Marshall Enterprise's Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should Marshall make at
At year-end, Marshall Enterprise's Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should Marshall make at year-end?
Multiple Choice
Debit Factory Overhead $5,000; credit Work in Process Inventory $5,000
No entry is needed.
Debit Factory Overhead $5,000; credit Finished Goods Inventory $5,000.
Debit Cost of Goods Sold $5,000; credit Factory Overhead $5,000.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
