ACC 202 problem set module 2 PDF

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Summary

PAGE TWO OF THE SECOND MODULE ASSIGNMENT...

Description

Entries for flow of factory costs for process cost system

X

Instructions

X

Journal PAGE 10

JOURNAL DATE 1

Sep. 30

Score: 25/25

DESCRIPTION ✔

POST. REF.

CREDIT

ASSETS

↑

369,000.00

✔

Materials

2

DEBIT ✔

✔

Work in Process-Refining Department

ACCOUNTING EQUATION

✔

369,000.00

↓

LIABILITIES

EQUITY

✔ ✔

Points:

5/5

a(2). On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct labor. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

How does grading work? PAGE 10

JOURNAL DATE 1 2

Sep. 30

Score: 25/25

DESCRIPTION ✔

Work in Process-Refining Department Wages Payable

POST. REF. ✔ ✔

DEBIT

CREDIT

ACCOUNTING EQUATION ASSETS

✔

↑

146,000.00 ✔

146,000.00

LIABILITIES

EQUITY

✔

↑

✔

Points:

5/5...