Concept Introduction Journal entry: Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system. To prepare: The journal entries for the year.

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Answer 1

Question

Chapter 4, Problem 4.3P

a.

To determine

Concept Introduction

Journal entry:

Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system.

To prepare: The journal entries for the year.

b.

To determine

Concept Introduction

T-account: A T-account is an account used to represent a general ledger account. The title of the account is present at the top. The left side of the base of T denotes the debit amount and the right side denotes the credit amount.

To prepare: The t-accounts of all relevant accounts for the year.

c.

To determine

Concept Introduction

Trial Balance: A trial balance can be defined as a bookkeeping worksheet wherein the balances of the ledgers of a company are brought together into the debit column and the credit column. A trial balance is prepared by a company periodically, generally at the end of an accounting period. It is usually prepared to make sure that the entries in the bookkeeping system of a company are correct and true.

To prepare: The unadjusted trial balance as on December 31, 2018.

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Department A had 4,700 units in work in process that were 75% completed as to labor and overhead at the beginning of the period, 32,600 units of direct materials were added during the period, 35,100 units were completed during the period, and 2,200 units were 26% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories.The number of equivalent units of production for material costs for the period was a. 35,100 b. 37,300 c. 30,400 d. 32,600

Answer 2

Question

Chapter 4, Problem 4.3P

a.

To determine

Concept Introduction

Journal entry:

Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system.

To prepare: The journal entries for the year.

b.

To determine

Concept Introduction

T-account: A T-account is an account used to represent a general ledger account. The title of the account is present at the top. The left side of the base of T denotes the debit amount and the right side denotes the credit amount.

To prepare: The t-accounts of all relevant accounts for the year.

c.

To determine

Concept Introduction

Trial Balance: A trial balance can be defined as a bookkeeping worksheet wherein the balances of the ledgers of a company are brought together into the debit column and the credit column. A trial balance is prepared by a company periodically, generally at the end of an accounting period. It is usually prepared to make sure that the entries in the bookkeeping system of a company are correct and true.

To prepare: The unadjusted trial balance as on December 31, 2018.

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Answer 3

Question

Chapter 4, Problem 4.3P

a.

To determine

Concept Introduction

Journal entry:

Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system.

To prepare: The journal entries for the year.

b.

To determine

Concept Introduction

T-account: A T-account is an account used to represent a general ledger account. The title of the account is present at the top. The left side of the base of T denotes the debit amount and the right side denotes the credit amount.

To prepare: The t-accounts of all relevant accounts for the year.

c.

To determine

Concept Introduction

Trial Balance: A trial balance can be defined as a bookkeeping worksheet wherein the balances of the ledgers of a company are brought together into the debit column and the credit column. A trial balance is prepared by a company periodically, generally at the end of an accounting period. It is usually prepared to make sure that the entries in the bookkeeping system of a company are correct and true.

To prepare: The unadjusted trial balance as on December 31, 2018.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 4.3P

a.

To determine

Concept Introduction

Journal entry:

Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system.

To prepare: The journal entries for the year.

b.

To determine

Concept Introduction

T-account: A T-account is an account used to represent a general ledger account. The title of the account is present at the top. The left side of the base of T denotes the debit amount and the right side denotes the credit amount.

To prepare: The t-accounts of all relevant accounts for the year.

c.

To determine

Concept Introduction

Trial Balance: A trial balance can be defined as a bookkeeping worksheet wherein the balances of the ledgers of a company are brought together into the debit column and the credit column. A trial balance is prepared by a company periodically, generally at the end of an accounting period. It is usually prepared to make sure that the entries in the bookkeeping system of a company are correct and true.

To prepare: The unadjusted trial balance as on December 31, 2018.

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Answer 5

Chapter 4, Problem 4.3P

a.

To determine

Concept Introduction

Journal entry:

Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system.

To prepare: The journal entries for the year.

b.

To determine

Concept Introduction

T-account: A T-account is an account used to represent a general ledger account. The title of the account is present at the top. The left side of the base of T denotes the debit amount and the right side denotes the credit amount.

To prepare: The t-accounts of all relevant accounts for the year.

c.

To determine

Concept Introduction

Trial Balance: A trial balance can be defined as a bookkeeping worksheet wherein the balances of the ledgers of a company are brought together into the debit column and the credit column. A trial balance is prepared by a company periodically, generally at the end of an accounting period. It is usually prepared to make sure that the entries in the bookkeeping system of a company are correct and true.

To prepare: The unadjusted trial balance as on December 31, 2018.

Answer 6

Chapter 4, Problem 4.3P

a.

To determine

Concept Introduction

Journal entry:

Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system.

To prepare: The journal entries for the year.

Answer 7

Chapter 4, Problem 4.3P

a.

To determine

Concept Introduction

Journal entry:

Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system.

To prepare: The journal entries for the year.

Answer 8

b.

To determine

Concept Introduction

T-account: A T-account is an account used to represent a general ledger account. The title of the account is present at the top. The left side of the base of T denotes the debit amount and the right side denotes the credit amount.

To prepare: The t-accounts of all relevant accounts for the year.

Answer 9

b.

To determine

Concept Introduction

T-account: A T-account is an account used to represent a general ledger account. The title of the account is present at the top. The left side of the base of T denotes the debit amount and the right side denotes the credit amount.

To prepare: The t-accounts of all relevant accounts for the year.

Answer 10

c.

To determine

Concept Introduction

Trial Balance: A trial balance can be defined as a bookkeeping worksheet wherein the balances of the ledgers of a company are brought together into the debit column and the credit column. A trial balance is prepared by a company periodically, generally at the end of an accounting period. It is usually prepared to make sure that the entries in the bookkeeping system of a company are correct and true.

To prepare: The unadjusted trial balance as on December 31, 2018.

Answer 11

c.

To determine

Concept Introduction

Trial Balance: A trial balance can be defined as a bookkeeping worksheet wherein the balances of the ledgers of a company are brought together into the debit column and the credit column. A trial balance is prepared by a company periodically, generally at the end of an accounting period. It is usually prepared to make sure that the entries in the bookkeeping system of a company are correct and true.

To prepare: The unadjusted trial balance as on December 31, 2018.

Answer 12

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Answer 13

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Answer 14

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Answer 15

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Concept Introduction Journal entry: Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system. To prepare: The journal entries for the year.

Concept Introduction Journal entry: Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system. To prepare: The journal entries for the year.

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Chapter 4 Solutions

Concept Introduction

Journal entry:

Journal is the primary record of the business transaction in chronological (date-wise) order. Journal entry contains two effects one is debit and the other is credit, under a double entry book-keeping system.

To prepare: The journal entries for the year.