Materials issued for the current month are as follows: Journalize the entry on D

Question

Materials issued for the current month are as follows:

Journalize the entry on Dec. 31 to record the issuance of materials. Refer to the Chart of Accounts for exact wording of account titles.

Journalize the entry on Dec. 31 to record the issuance of materials. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

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Requisition No. Material Job No. Amount 201 Aluminum 500 $87,910 202 Plastic 503 27,540 203 Rubber 504 3,840 204 Glue Indirect 2,020 205 Steel 510 38,580

Explanation / Answer

Solution.

Preparetion of journak entry.

Requisition No Genral Journal Debit Credit 201 Work in Progress account - 500              87,910.00 Inventories             87,910.00 202 Work in Progress account - 503              27,540.00 Inventories             27,540.00 203 Work in Progress account - 504                3,840.00 Inventories               3,840.00 204 Manufacturing overheads                2,020.00 Inventories               2,020.00 205 Work in Progress account - 510              38,580.00 Inventories             38,580.00

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