Question: Can I please get some help with this problem on accounting please? Thank you Nixon Company completed jobs that cost $39,000 to produce. In the

Can I please get some help with this problem on accounting please? Thank you

Can I please get some help with this problem on accounting please?

Nixon Company completed jobs that cost $39,000 to produce. In the same period, the company sold jobs for $28,000 that cost $43,500 to produce. Prepare the journal entries for the completion and sales of the jobs. All sales are on account. (Record debits first, then credits. Exclude explanations from any journal entries.) Prepare the Journal entry to record the completion of jobs. Date Accounts Debit Credit Prepare the journal entry to record the sale of jobs. (Do not include the cost of the sale in this journal entry, it will be prepared in the next step. Date Accounts Debit Credit Prepare the journal entry for the cost to produce the jobs that were sold Date Accounts Debit Credit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!