Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. prepare journal entries to record the following pr

Prepare journal entries to record the following production activities. Transferred completed goods from the...

70.2K

Verified Solution

Question

Accounting

Prepare journal entries to record the following production activities.

  1. Transferred completed goods from the Assembly department to finished goods inventory. The goods cost $132,000.
  2. Sold $442,000 of goods on credit. Their cost is $153,000.
  • Record the transfer of goods from the assembly department to finished goods.

Note: Enter debits before credits.
Transaction General Journal Debit Credit
1.

  • Record the sale of goods on credit.

Note: Enter debits before credits.
Transaction General Journal Debit Credit
2-a.

Journal entry worksheet

  • Record the cost of goods sold.

Note: Enter debits before credits.
Transaction General Journal Debit Credit
2-b.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Do students perform the same when they take an exam alone as when they take an...

Basic Math
Q

What method of heat treatment is used for pistons in 4-stroke engines. What chemicals are used...

Mechanical Engineering
Q

rewrite the below-working principle of hydraulic power steering system in your own word with out missing...

Mechanical Engineering
Q

constant electric field of intensity E and a magnetic field of induction B coexist an...

Physics
Q

find the volume of the cone 8cm 6cm 366 7 cm 301 59 cm 364...

Geometry
Q

The expression In x 4 ln 2 ln 2 can be simplified to In w...

Calculus
Q

13 Consider y y 3 cos T 2 4 a What is the period of...

Algebra
Q

Grouper Construction Ltd. prepares its reports using IFRS. The following information relates to...

Accounting
Q

Brepuired Accounting records Brepuired Accounting records

Accounting
Q

You are required to complete the following table in your answer booklet to identify the...

Accounting
Q

If a business entity sells goods for Rs.10,000, this transaction would include two aspects: the...

Accounting
Q

Note answer is not $124,500 Chapter 15 Homework G Help Save & Exit Submit...

Accounting