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Business, 31.03.2020 00:20 Emptypockets451

Assuming a routine manufacturing activity, present journal entries (account titles only) for each of the following transactions: a. Purchased material on account. Description Debit Credit Answer Answer b. Recorded wages payable (for indirect labor) earned but not paid. Description Debit Credit Answer Answer c. Requisitioned both direct material and indirect material. Description Debit Credit Work in process inventory Answer Answer d. Assigned direct and indirect labor costs. Description Debit Credit Work in process inventory Answer Answer e. Recorded factory depreciation and accrued factory property tax. Description Debit Credit Answer Accumulated depreciation-factory Answer f. Applied manufacturing overhead to production. Description Debit Credit Answer Answer g. Completed work on products. Description Debit Credit Answer Answer h. Sold finished goods on account. Description Debit Credit Answer Answer To transfer cost to expense. Answer Answer To record sale of goods. i. Paid wages Description Debit Credit Answer Answer To pay wages earned.

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Assuming a routine manufacturing activity, present journal entries (account titles only) for each of...
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