The cost ledger of a company shows the following balances as on January 1, 2007. Work-in-progress control
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The cost ledger of a company shows the following balances as on January 1, 2007.
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Work-in-progress control A/c Finished stock ledger control A/c Works overhead suspense A/c Office and administration overhead suspense A/c Dr. Rs. 7,840 5,860 400 200 10,500 Cr Stores ledger control A/c General adjustment A/c Transactions for the year 2007 were: Wages (direct labour) Wages (indirect labour) Works overhead allocated to production Office and administration overhead allocated Stores issued to production Goods finished during the year Finished goods sold (no stock were left at the year end) Stores purchased Stores issued to factory repair orders Carriage inwards on stores issued for production Works expenses Office and administration expenses You are required to: (a) Write up the cost ledger accounts recording the above transactions and make necessary transfers to control accounts. (b) Prepare the Trial Balance as on 31st December, 2007. 24,800 61,200 2,800 18,700 6,200 39,300 1,20,000 1,32,000 36,000 1,500 600 14,000 6,000
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a Updating the Cost Ledger Accounts WorkinProgress Control Ac Opening balance Rs 7840 Add Direct lab...View the full answer
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