Refer to the transactions in P9.6.

Additional information:

1. Depreciation expense for the month was $ 15,000 on the factory building and $ 5,000 on the manufacturing equipment.

2. Depreciation expense for the month was $ 3,000 on selling and administrative equipment.

3. Overhead is closed to cost of goods sold after the adjusting entries are made.

4. The account balances before the P9.6 entries were made are presented in the following trial balance:

Required
A. Use the trial balance and open the appropriate T- accounts.
B. Post the journal entries prepared in P9.6 to the accounts. (Additional accounts will be required.)
C. Prepare a preliminary trial balance.
D. Prepare the adjusting entries as needed and post to the appropriate accounts.
E. Prepare a schedule of cost of goods manufactured for the month.

Transcribed Image Text:

Trial Balance Debits $82 300 20,000 21,000 100,000 185,000 00,000 Credits Cash Accounts receivable Direct materials ineentory Work-in-proe ess inventory Finished goods invantory Manufacturing equipmam Accumulatod dopraciation manufactring oquipmant Factory building Accumulated cepraciation- factory building Selling and administrative equipment Accumulated cepreciation-seling and administrative equpment Accounts payable Taxes payable Long-tarm notes payable Capital stock Rotainad sarnings $ 188,000 1,100,000 612,000 20,000 5000 34,000 22,000 500,000 250,000