Q27 Which of the following entry rightly record fortransferring goods from WIP to finishedstock?а.А.Dr. Costing Profit andLoss A/cCr. Work in Process Inventory A/cO b.Dr. Finished GoodsА.Inventory A/cCr. Work in Process Inventory A/cС.A.Dr. Work in ProcessInventory A/cCr. Costing Profit and Loss A/cd.А.Dr. Work in ProcessInventory A/cCr. Finished Goods Inventory A/c

Transferring from WIP to finished stock increases the finished inventory and decreases the WIP…

Which of the following entry rightly record for transferring goods from WIP to finished stock? а. А. Dr. Costing Profit and Loss A/c Cr. Work in Process Inventory A/c O b. А. Dr. Finished Goods Inventory A/c Cr. Work in Process Inventory A/c с. А. Dr. Work in Process Inventory A/c Cr. Costing Profit and Loss A/c O d. А. Dr. Work in Process Inventory A/c Cr. Finished Goods Inventory A/c

Which of the following entry rightly record for transferring goods from WIP to finished stock? а. А. Dr. Costing Profit and Loss A/c Cr. Work in Process Inventory A/c O b. А. Dr. Finished Goods Inventory A/c Cr. Work in Process Inventory A/c с. А. Dr. Work in Process Inventory A/c Cr. Costing Profit and Loss A/c O d. А. Dr. Work in Process Inventory A/c Cr. Finished Goods Inventory A/c

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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