Question

1. Journalize the entries to record the operations, using the dates provided with the summary of manufacturing operations. Refer to the chart of accounts for the exact wording of the account titles. CNOWjournals do not use lines for spaces or journal explanations. Every line on a journal page is used for debitor 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. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST RER DEBIT CREDIT ASSETS LIABILITIES EQUITY 1

Answer 1

Indirect Material - Tufting Department is cropped,
So in entry 2 i have not filled the amount, accordingly balance of factory overhead - tufting department and material could not be calculated.

Date	Account Titles	Debit	Credit
Jan-01	Materials	$         82,000
	Accounts Payable		$          82,000
Jan-02	Work in Process-Spinning Department	$         42,600
	Work in Process-Tufting Department	$         34,700
	Factory Overhead-Spinning Department	$           3,300
	Factory Overhead-Tufting Department
	Materials		$          80,600
Jan-31	Work in Process-Spinning Department	$         26,300
	Work in Process-Tufting Department	$         17,200
	Factory Overhead-Spinning Department	$         12,500
	Factory Overhead-Tufting Department	$         11,900
	Wages Payable		$          67,900
Jan-31	Factory Overhead-Spinning Department	$           5,300
	Factory Overhead-Tufting Department	$           3,100
	Accumulated Depreciation		$            8,400
Jan-31	Factory Overhead-Spinning Department	$           1,000
	Factory Overhead-Tufting Department	$               800
	Prepaid Insurance		$            1,800
Jan-31	Work in Process-Spinning Department	$         22,400
	Work in Process-Tufting Department	$         18,250
	Factory Overhead-Spinning Department		$          22,400
	Factory Overhead-Tufting Department		$          18,250
Jan-31	Work in Process-Tufting Department	$         90,000
	Work in Process-Spinning Department		$          90,000
Jan-31	Finished Goods	$       153,200
	Work in Process-Tufting Department		$       153,200
Jan-31	Cost of Goods Sold	$       158,000
	Finished Goods		$       158,000

Materials		Debit
Work in Process
Spinning Department	$           3,300	Debit
Tufting Department	$           9,550	Debit
Finished Goods	$           3,500	Debit

Factory Overhead
Spinning Department	$               300	Credit
Tufting Department		Debit

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