Homework Answers
Answer is ------> Option A
Explanation :
The reason being expense will be debited and we have paid the cash for the expense it will be credited as per the rule of accounting ( real & nominal nature of accounts ).
Since both option A and B has same accounting but there is difference in amount which determines in option B the credit amount doesn't match with the debit amount .
Option C is incorrect because as per accounting rule , account which shall be debited shall be passed first and cumulatively and subseqently all credit entries shall be passed.
Option D is incorrect as reason already being explained above.
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adjusting entries
post adjusting journal entries to the t-accounts, closiing
entries, post closung entries
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Given this info, is the manufacturing overhead underapplied or
overapplied for the year?
record the above journal entry
prepare an income statement
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