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Chapter 7, Problem 7.10SE
To determine

Bank Reconciliation Statement: The Company maintains its own records from its perspective and they are different from bank perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To journalize: Company’s transactions that arise from the bank reconciliation.

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Data for the two departments of Gurley Industries for September of the current fiscal year are as follows:   Drawing Department Winding Department Work in process, September 1 4,900 units, 20% completed 3,000 units, 65% completed Completed and transferred to next   processing department during September 67,100 units 66,000 units Work in process, September 30 3,700 units, 55% completed 4,100 units, 20% completed Production begins in the Drawing Department and finishes in the Winding Department. Question Content Area a.  If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for September for the Drawing Department. If an amount is zero, enter in "0". Drawing DepartmentDirect Materials and Conversion Equivalent Units of ProductionFor September Line Item Description Whole Units Direct MaterialsEquivalent Units ConversionEquivalent Units Inventory in process,…

Chapter 7 Solutions

Horngren's Financial & Managerial Accounting, The Managerial Chapters Plus MyLab Accounting with Pearson eText - Access Card Package (6th Edition)

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