A companys Factory Overhead T-account shows total debits of $ 624,000 and total credits of $ 646,000

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A company’s Factory Overhead T-account shows total debits of $ 624,000 and total credits of $ 646,000 at the end of a period. Prepare the journal entry to close the balance in the Factory Overhead account to Cost of Goods Sold.

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Fundamental accounting principle

ISBN: 978-0078025587

21st edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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Question Posted: Nov 29, 2013 05:33 AM

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A companys Factory Overhead T-account shows total debits of $ 624,000 and total credits of $ 646,000

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Factory Overhead 22000 Cost of Goods Sold 22000 ...View the full answer

Fundamental accounting principle

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