Instructions art of Accounts 410 Sales A summary of the time tickets for the current month 110 Cash follows: 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable Job No. Amount 126 Interest Receivable EXPENSES 100 $7,800 131 Materials 510 Cost of Goods Sold 101 11,900 132 Work in Process 520 Wages Expense 104 27,100 133 Factory Overhead 531 Selling Expenses 108 18,600 134 Finished Goods 532 Insurance Expense Indirect 8,500 141 Supplies 533 Utilities Expense 111 4,400 142 Prepaid Insurance 534 Office Supplies Expense 115 3,200 143 Prepaid Expenses 540 Administrative Expenses 117 15,800 181 Land 569 Depreciation Expense-Factory 191 Factory 590 Miscellaneous Expense 192 Accumulated Depreciation-Factory 710 Interest Expense LIABILITIES Journal 210 Accounts Payable JOURNAL ACCOUNTIE ENIATION 221 Utilities Payable LIABILITIES DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS EQUITY 231 Notes Payable 1 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings

Instructions art of Accounts 410 Sales A summary of the time tickets for the current month 110 Cash follows: 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable Job No. Amount 126 Interest Receivable EXPENSES 100 $7,800 131 Materials 510 Cost of Goods Sold 101 11,900 132 Work in Process 520 Wages Expense 104 27,100 133 Factory Overhead 531 Selling Expenses 108 18,600 134 Finished Goods 532 Insurance Expense Indirect 8,500 141 Supplies 533 Utilities Expense 111 4,400 142 Prepaid Insurance 534 Office Supplies Expense 115 3,200 143 Prepaid Expenses 540 Administrative Expenses 117 15,800 181 Land 569 Depreciation Expense-Factory 191 Factory 590 Miscellaneous Expense 192 Accumulated Depreciation-Factory 710 Interest Expense LIABILITIES Journal 210 Accounts Payable JOURNAL ACCOUNTIE ENIATION 221 Utilities Payable LIABILITIES DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS EQUITY 231 Notes Payable 1 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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