Question

Journalize the following transactions for Sleek's Furniture. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.)

Answer 1

S.no	Account titles & Explanations	Debit	Credit
a.	Web site expense	2100
	To Cash		2100
b.	Work in process inventory	9100
	Manufacturing overhead	4900
	To Factory wages payable		14000
c.	Raw materials inventory	20000
	To Accounts payable		20000
d.	Work in process inventory	8000
	Manufacturing overhead	2500
	To Raw materials inventory		10500
e.	Manufacturing overhead	21700
	Accumulated depreciation		16000
	Prepaid insurance		2000
	property tax payable		3700
f.	Work in process inventory	19110
	To Manufacturing overhead		19110
	(9100*210%)
g.	Finished goods inventory	34000
	to Work in process inventory		34000
h.	Account receivable	30000
	To sales		30000
	Cost of goods sold	10000
	To finished goods inventory		10000
i.	Cost of goods sold	2590
	To manufacturing overhead		2590
	(21700-19110 = 2590)