Homework Help is Here – Start Your Trial Now!
Business
Accounting
Cost Accounting-Basic Concepts and the Job Order Cost Cycle Problem 1-16: Statement of Cost of Goods Sold Jenna Company has provided the following data concerning its opera. tions for the year ended December 31, 2018: Raw materials on hand, December 31 Work in process, December 31 Finished goods, December 31 Factory supplies on hand, December 31 Sales Factory maintenance Administrative salaries Discounts on raw materials purchases Delivery expenses Interest income Factory supplies used Common stock (P10 par value) Retained earnings Trade accounts payable Accumulated depreciation-factory building and equipment Building and equipment Trade accounts receivable Cash Finished goods, January 1, 2018 Direct labor Bad debt expense Factory power and heat Advertising Insurance expired-factory building and equipment Work in process, January 1, 2018 Depreciation-factory building and equipment Factory superintendence Interest expense Raw materials purchased Indirect factory labor Sales returns Sales discounts 75 P 24,000 30,000 40,000 14,000 1,100,000 38,400 108,000 4,200 16,000 1,000 22,400 2,000,000 525,000 273,500 47,500 500,000 450,000 170,000 37,500 180,000 2,500 19,400 8,400 4,800 84,000 17,500 100,000 1,500 400,000 20,000 2,200 1,300

Cost Accounting-Basic Concepts and the Job Order Cost Cycle Problem 1-16: Statement of Cost of Goods Sold Jenna Company has provided the following data concerning its opera. tions for the year ended December 31, 2018: Raw materials on hand, December 31 Work in process, December 31 Finished goods, December 31 Factory supplies on hand, December 31 Sales Factory maintenance Administrative salaries Discounts on raw materials purchases Delivery expenses Interest income Factory supplies used Common stock (P10 par value) Retained earnings Trade accounts payable Accumulated depreciation-factory building and equipment Building and equipment Trade accounts receivable Cash Finished goods, January 1, 2018 Direct labor Bad debt expense Factory power and heat Advertising Insurance expired-factory building and equipment Work in process, January 1, 2018 Depreciation-factory building and equipment Factory superintendence Interest expense Raw materials purchased Indirect factory labor Sales returns Sales discounts 75 P 24,000 30,000 40,000 14,000 1,100,000 38,400 108,000 4,200 16,000 1,000 22,400 2,000,000 525,000 273,500 47,500 500,000 450,000 170,000 37,500 180,000 2,500 19,400 8,400 4,800 84,000 17,500 100,000 1,500 400,000 20,000 2,200 1,300

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Unadjusted Trial Balance

Cost Accounting-Basic Concepts and the Job Order Cost Cycle Problem 1-16: Statement of Cost of Goods Sold Jenna Company has provided the following data concerning its opera. tions for the year ended December 31, 2018: Raw materials on hand, December 31 Work in process, December 31 Finished goods, December 31 Factory supplies on hand, December 31 Sales Factory maintenance Administrative salaries Discounts on raw materials purchases Delivery expenses Interest income Factory supplies used Common stock (P10 par value) Retained earnings Trade accounts payable Accumulated depreciation-factory building and equipment Building and equipment Trade accounts receivable Cash Finished goods, January 1, 2018 Direct labor Bad debt expense Factory power and heat Advertising Insurance expired-factory building and equipment Work in process, January 1, 2018 Depreciation-factory building and equipment Factory superintendence Interest expense Raw materials purchased Indirect factory labor Sales returns Sales discounts 75 P 24,000 30,000 40,000 14,000 1,100,000 38,400 108,000 4,200 16,000 1,000 22,400 2,000,000 525,000 273,500 47,500 500,000 450,000 170,000 37,500 180,000 2,500 19,400 8,400 4,800 84,000 17,500 100,000 1,500 400,000 20,000 2,200 1,300
Transcribed Image Text:Cost Accounting-Basic Concepts and the Job Order Cost Cycle Problem 1-16: Statement of Cost of Goods Sold Jenna Company has provided the following data concerning its opera. tions for the year ended December 31, 2018: Raw materials on hand, December 31 Work in process, December 31 Finished goods, December 31 Factory supplies on hand, December 31 Sales Factory maintenance Administrative salaries Discounts on raw materials purchases Delivery expenses Interest income Factory supplies used Common stock (P10 par value) Retained earnings Trade accounts payable Accumulated depreciation-factory building and equipment Building and equipment Trade accounts receivable Cash Finished goods, January 1, 2018 Direct labor Bad debt expense Factory power and heat Advertising Insurance expired-factory building and equipment Work in process, January 1, 2018 Depreciation-factory building and equipment Factory superintendence Interest expense Raw materials purchased Indirect factory labor Sales returns Sales discounts 75 P 24,000 30,000 40,000 14,000 1,100,000 38,400 108,000 4,200 16,000 1,000 22,400 2,000,000 525,000 273,500 47,500 500,000 450,000 170,000 37,500 180,000 2,500 19,400 8,400 4,800 84,000 17,500 100,000 1,500 400,000 20,000 2,200 1,300
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS