True Return to course 3: My Subscriptions HOLANDO - Questo 2 Palace eBook Mark 47.00 out of 76.00 Page Journal Entries Porter Manufacturing Company uses the perpetual inventory system to account for its manufacturing Inventories. The following are Porter's transactions during September 2016 Sept. 5 Received materia costing $3.000 from a supplier. The material was purchased an account 9 Requisitioned 57.000 of material for use in the factory, consisting of $5.600 of direct material and 51.400 of indirect material Recorded the factory syroll 514,000 of direct labor and $2,000 of indirect labor 17 Incared various overhead costs for Credit Accounts Payable) 20 Apied 521000 of manufacturing over to the products being manufactured 23 Completed product conting $12.000 and moved it to the warehouse 26 Sold goods with a product cost of $4,000 on account for $6,000 a and b. Record the transactions listed above in general journal form, post relevant portions to the four T-accounts set up below, and balance the four accounts Debit 3,000 0 Credit 0 3.000 0 General Journal Date Description Sept. 5 Materials inventory . Accounts payable . Sept. 9 Work in process inventory Manufacturing overhead 2 Materials inventory Sept 11 Work in process inventory Manufacturing overhead Wages payable Sept 17 Manufacturing overhead Accounts payable Sept. 20 Work in process inwentory OX OK OV GOOD CX D 0 12 V 7 xw10 E BusinessCourse Return to course # My Subscriptions HOLANDO a. and b. Record the transactions listed above in general Journal form, post relevant portions to the four T-accounts set-up below, and balance the four accounts. Credit Debit 3.000 OM 3,000 OX 0 OV OX OX 00 0 x OX 0 O O OX General journal Date Description Sept. 5 Materials inventory . Accounts payable Sept. 9 Work in process inventory Manufacturing overhead Materials inventory Sept 11 Work in process inventory Manufacturing overhead Wages payable . Sept. 17 Manufacturing overhead Accounts payable . Sept. 20 Work in process inventory Manufacturing overhead Sept. 23 Finished goods inventory Work in process inventory Sept. 26 Cost of goods sold . Finished goods inventory To record cost of goods sold Sept 26 Accounts receivable . Sales To record sale of product OV OX 0 0 OV 0 OX ON ov OX 0 OX 0 0 OX 0 OX OV OX For T-accounts, enter transactions in order of occurrence using the first available answer box in the appropriate debitor credit calumn Materials Inventory Finished Goods Inventory 8.000 Sal 11.00 Ox OX Bal Ba OM OV ov > 2 My Subscriptions Sept. 26 Cost of goods sold Finished goods inventory To record cost of goods sold, Sept. 26 Accounts receivable Sales To record sale of product DOO . XX 0 0 For T-accounts, enter transactions in order of occurrence using the first available answer box in the appropriate debitor credit column. Materials Inventory Finished Goods Inventory Bal 8,000 OX Bali 11,000 OX OX 0 OX 0 Bal. OK O Bal. OX O Work in Process Inventory 26,000 Cost of Goods Sold 32.000 Bal Bal 0. O O Oy OX OX Bal 0 X 0.X OX 0 Bal O Check Partially correct Marks for this submission: 47.0077600 Previous Save Answers 9 12 True Return to course 3: My Subscriptions HOLANDO - Questo 2 Palace eBook Mark 47.00 out of 76.00 Page Journal Entries Porter Manufacturing Company uses the perpetual inventory system to account for its manufacturing Inventories. The following are Porter's transactions during September 2016 Sept. 5 Received materia costing $3.000 from a supplier. The material was purchased an account 9 Requisitioned 57.000 of material for use in the factory, consisting of $5.600 of direct material and 51.400 of indirect material Recorded the factory syroll 514,000 of direct labor and $2,000 of indirect labor 17 Incared various overhead costs for Credit Accounts Payable) 20 Apied 521000 of manufacturing over to the products being manufactured 23 Completed product conting $12.000 and moved it to the warehouse 26 Sold goods with a product cost of $4,000 on account for $6,000 a and b. Record the transactions listed above in general journal form, post relevant portions to the four T-accounts set up below, and balance the four accounts Debit 3,000 0 Credit 0 3.000 0 General Journal Date Description Sept. 5 Materials inventory . Accounts payable . Sept. 9 Work in process inventory Manufacturing overhead 2 Materials inventory Sept 11 Work in process inventory Manufacturing overhead Wages payable Sept 17 Manufacturing overhead Accounts payable Sept. 20 Work in process inwentory OX OK OV GOOD CX D 0 12 V 7 xw10 E BusinessCourse Return to course # My Subscriptions HOLANDO a. and b. Record the transactions listed above in general Journal form, post relevant portions to the four T-accounts set-up below, and balance the four accounts. Credit Debit 3.000 OM 3,000 OX 0 OV OX OX 00 0 x OX 0 O O OX General journal Date Description Sept. 5 Materials inventory . Accounts payable Sept. 9 Work in process inventory Manufacturing overhead Materials inventory Sept 11 Work in process inventory Manufacturing overhead Wages payable . Sept. 17 Manufacturing overhead Accounts payable . Sept. 20 Work in process inventory Manufacturing overhead Sept. 23 Finished goods inventory Work in process inventory Sept. 26 Cost of goods sold . Finished goods inventory To record cost of goods sold Sept 26 Accounts receivable . Sales To record sale of product OV OX 0 0 OV 0 OX ON ov OX 0 OX 0 0 OX 0 OX OV OX For T-accounts, enter transactions in order of occurrence using the first available answer box in the appropriate debitor credit calumn Materials Inventory Finished Goods Inventory 8.000 Sal 11.00 Ox OX Bal Ba OM OV ov > 2 My Subscriptions Sept. 26 Cost of goods sold Finished goods inventory To record cost of goods sold, Sept. 26 Accounts receivable Sales To record sale of product DOO . XX 0 0 For T-accounts, enter transactions in order of occurrence using the first available answer box in the appropriate debitor credit column. Materials Inventory Finished Goods Inventory Bal 8,000 OX Bali 11,000 OX OX 0 OX 0 Bal. OK O Bal. OX O Work in Process Inventory 26,000 Cost of Goods Sold 32.000 Bal Bal 0. O O Oy OX OX Bal 0 X 0.X OX 0 Bal O Check Partially correct Marks for this submission: 47.0077600 Previous Save Answers 9 12