Case Study 2

.xlsx
School
DeVry University, Keller Graduate School of Management **We aren't endorsed by this school
Course
ACCT 552
Subject
Accounting
Date
Oct 17, 2023
Pages
3
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General Journal Date Account Debit Credit 1-Sep Raw Materials $ 1,170,000 Accounts Payable $ 1,170,000 1-Sep Work In Progress - Precast $ 720,000 Manufacturing Overhead - Precast Dept $ 450,000 Raw Materials $ 1,170,000 4-Sep Manufacturing Overhead - Const. Dept $ 30,000 Accounts Payable $ 30,000 6-Sep Manufacturing Overhead - Precast Dept $ 7,200 Cash $ 7,200 15-Sep No Entry Needed 19-Sep Manufacturing Overhead - Const. Dept $ 65,000 Cash $ 65,000 23-Sep Raw Materials $ 1,510,000 Accounts Payable $ 1,510,000 30-Sep Manufacturing Overhead - Precast Dept $ 50,000 Work In Progress - Precast Dept $ 43,600 Cash $ 72,100 Accumulated Depreciation - Precast Dept $ 21,500 30-Sep Work In Progress - Const. Dept $ 20,650 Manufacturing Overhead - Const. Dept $ 19,500 Cash $ 30,700 Accumulated Depreciation - Const. Dept $ 9,450 30-Sep Accounts Payable $ 2,680,000 Cash $ 2,680,000 30-Sep Work In Progress - Precast Dept $ 192,000 Manufacturing Overhead - Precast Dept $ 192,000 30-Sep Work In Progress - Const. Dept $ 29,250 Manufacturing Overhead - Const. Dept $ 29,250 General Journal Date Account Debit Credit 1-Oct No Entry Needed
1-Oct Manufacturing Overhead - Const. Dept $ 7,000 Cash $ 7,000 4-Oct Work In Progress - Precast Dept $ 860,000 Manufacturing Overhead - Precast Dept $ 150,000 Raw Materials $ 1,010,000 7-Oct Manufacturing Overhead - Precast Dept $ 7,500 Cash $ 7,500 12-Oct Work In Progress - Const. Dept $ 220,000 Manufacturing Overhead - Const. Dept $ 170,000 Raw Materials $ 390,000 15-Oct No Entry Needed 25-Oct No Entry Needed 29-Oct No Entry Needed 31-Oct Manufacturing Overhead - Precast Dept $ 64,000 Work In Progress - Precast Dept $ 120,000 Cash $ 162,500 Accumulated Depreciation $ 21,500 31-Oct Manufacturing Overhead - Const. Dept $ 41,350 Work In Progress - Const. Dept $ 144,500 Cash $ 176,400 Accumulated Depreciation - Const. Dept $ 9,450 31-Oct Work In Progress - Precast Dept $ 123,600 Manufacturing Overhead - Precast Dept $ 123,600 31-Oct Work In Progress - Const. Dept $ 216,750 Manufacturing Overhead - Const. Dept $ 216,750 31-Oct Accounts Receivable $ 3,850,000 Sales Revenue $ 3,850,000 31-Oct Work In Progress - Precast $ 2,065,600 Work In Progress - Const. Dept $ 630,000 Finished Goods Inventory $ 2,695,600 31-Oct Cost of Goods Sold $ 2,695,600
Finished Goods Inventory $ 2,695,600
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