Exam 1 - Problem 1 - Exam 1 Problem 1 Wilfredo De Leon...

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Unformatted text preview: Exam 1 Problem 1 Wilfredo De Leon Accounting 2 Selecting Technology Journal Entries A. Raw Materials Inventory 640,000 Accounts Payable 640,000 B. Work in Process 580,000 Manufacturing Overhead 40,000 Raw Materials Inventory 620,000 C. Manufacturing Overhead 120,000 Utilities Expense 85,000 Accounts Payable 205,000 D. Work in Process 362,000 Manufacturing Overhead 125,000 Salaries Expense 295,000 Salaries and Wages Payable 782,000 E. Manufacturing Overhead 118,000 Accounts Payable 118,000 F. Advertising Expense 145,000 Accounts Payable 145,000 G. Manufacturing Overhead 105,000 Depreciation Expense 67,000 Accumulated Depreciation 172,000 H. Manufacturing Overhead 170,000 Rent Expense 115,000 Accounts Payable 285,000 I. Work in Process Inventory 672,000 Manufacturing Overhead 672,000 J. Finished Goods Inventory 1,560,000 Work in Process Inventory 1,560,000 K. Accounts Receivable 2,750,000 Sales 2,750,000 Cost of Goods Sold 1,620,000 Finished Goods Inventory 1,620,000 Exam 1 Problem 1 Wilfredo De Leon Accounting 2 Accounts Receivable Accounts Payable Advertising (K) 2,750,000 640,000 (A) (F) 145,000 205,000 (C) 118,000 (E) 2,750,000 145,000 (F) End 2,750,000 285,000 (H) End 145,000 1,393,000 End Raw Materials Inventory Salaries & Wages Payable Depreciatio Bal 60,000 620,000 (B) 782,000 (D) (G) 67,000 (A) 640,000 End 80,000 782,000 End End 67,000 Work in Process Inventory Sales Rent E Bal 52,000 1,560,000 (J) 2,750,000 (K) (H) 115,000 (B) 580,000 (D) 362,000 (I) 672,000 2,750,000 End...
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Exam 1 - Problem 1 - Exam 1 Problem 1 Wilfredo De Leon...

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