T-accounts for the general ledger, the Raw Materials Inventory subsidiary ledger, the Work-in-Process Inventory subsidiary ledger, and
Question:
T-accounts for the general ledger, the Raw Materials Inventory subsidiary ledger, the Work-in-Process Inventory subsidiary ledger, and the Finished Goods Inventory subsidiary ledger have been opened for you along with each account's balance as given. Post the journal entries to the T-accounts using the transaction letters as a reference.
Begin with posting the transactions to the general ledger accounts. Key each transaction by transaction letter, and calculate the ending balance of each account. (Post each entry by entering only one debit or credit to each T-account affected by the transaction. For accounts with a zero balance, enter a "0" along with a "Bal." reference on the normal side of the T-account.)
Review the journal entries you prepared in Requirement 1..
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen