During the current month, GE completed job 310 and 312, job 310 cost $71000 and job 312 cost $51500. Job 312 was sold on account for $86000. Journalize the entries for the completion of the two jobs and the sale of job 312.
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During the current month, GE completed job 310 and 312,
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- DURING THE CURRENT MONTH, STANDARD CORPORATION COMPLETED JOB 310 AND JOB 312. JOB 310 COST 70,000 AND JOB 312 COST 50,000. JOB 312 WAS SOLD ON ACCOUNT FOR 90,000. JOURNALIZE THE ENTRIES FOR THE COMPLETION OF THE TWO JOBS AND THE SALE OF JOB 312?Job 113 was completed at a cost of $5,000, and Job 85 was completed at a cost of $3,000 and sold on account for $4,500. Prepare journal entries for the following: Completion of Job 113. Completion and sale of Job 85.In March, Crane Company completes Jobs 10 and 11. Job 10 cost $21,000 and Job 11 $31,000. On March 31, Job 10 is sold to the customer for $35,000 in cash.Journalize the entries for the completion of the two jobs and the sale of Job 10.
- Lincoln Company completed jobs that cost $43,000 to produce. In the same period, the company sold jobs for $82,000 that cost $40,500 to produce. Prepare the journal entries for the completion and sale of the jobs. All sales are on account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Prepare the journal entry to record the completion of jobs. Accounts and Explanations Date Debit Prepare the journal entry for the cost to produce the jobs that were sold. Date Accounts and Explanations Prepare the journal entry to record the sale of jobs. (Do not include the cost of the sale in this journal entry, it will be prepared in the next step.) Accounts and Explanations Debit Credit Debit Credit Credit Walleon August 4, Carrothers Company purchased on account 31,000 units of materials at $16 per unit. During August, raw materials were requisitioned for production as follows: 7,900 units for Job 50 at $11 per unit and 6,100 units for Job 56 at $16 per unit. Journalize the entry on August 4 to record the purchase. If an amount box does not require an entry, leave it blank. Journalize the entry on August 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank.Cao Inc. has worked on the following jobs during the first quarter of the year. The list of each job along with the balance of the total costs incurred at the end of the quarter is provided below: Job no. Ending Balance Job No. 221 $1,350 Job No. 222 1,270 Job No. 223 1,580 Job No. 224 1,690 Job No. 225 960 During the first quarter, jobs 221, 222, and 223 were completed; jobs 221 and 223 were sold on account for $2,000 and $2,380 respectively. Compute the ending balance of finished goods inventory. Group of answer choices $2,650 $4,200 $1,270 $2,930
- On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank. May 31Cao Inc. has worked on the following jobs during the first quarter of the year. The list of each job along with the balance of the total costs incurred at the end of the quarter is provided below: Job no. Ending Balance Job No. 221 $1,350 Job No. 222 1,270 Job No. 223 1,580 Job No. 224 1,690 Job No. 225 960 During the first quarter, jobs 221, 222, and 223 were completed; jobs 221 and 223 were sold on account for $2,000 and $2,380 respectively. What would the journal entry to record the costs of completed job during the first quarter be? Group of answer choices Debit: Finished goods inventory $4,200 and Credit: Work-in-process inventory $4,200 Debit: Work-in-process inventory $2,650 and Credit: Finished goods inventory $2,650 Debit: Finished goods inventory $1,270 and Credit: Work-in-process inventory $1,270 Debit: Work-in-process inventory $2,930 and Credit Finished goods inventory $2,930On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 fill in the blank 8b2b2efeb01a01c_2 fill in the blank 8b2b2efeb01a01c_3 fill in the blank 8b2b2efeb01a01c_5 fill in the blank 8b2b2efeb01a01c_6 Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank. May 31 fill in the blank 2a6ff00a0f9d03f_2 fill in the blank 2a6ff00a0f9d03f_3 fill in the blank 2a6ff00a0f9d03f_5 fill in the blank 2a6ff00a0f9d03f_6
- Cao Inc. has worked on the following jobs during the first quarter of the year. The list of each job along with the balance of the total costs incurred at the end of the quarter is provided below: Job no. Ending Balance Job No. 221 $1,350 Job No. 222 1,270 Job No. 223 1,580 Job No. 224 1,690 Job No. 225 960 During the first quarter, jobs 221, 222, and 223 were completed; jobs 221 and 223 were sold on account for $2,000 and $2,380 respectively. What would be the amount of costs of goods sold to be recorded in the income statement of the first quarter? Group of answer choices $1,270 $2,650 $4,200 $2,930On June 30 a company finished job 110 with total costs of $119,000 and transferred the costs to finished goods inventory. On april 10 the company completed the sale of the goods to a customer for 135,000 on account. How would the journal entry be recorded to show the costs of goods sold?The journal entry to record the completion of Job No.114 at a cost of $72,000 would include: *