The post-closing trial balance of Beamer Manufacturing Co. on April 30 is reproduced as follows: During the

Question:

The post-closing trial balance of Beamer Manufacturing Co. on April 30 is reproduced as follows:

During the month of May, the following transactions took place:
a. Purchased raw materials at a cost of $45,000 and general factory supplies at a cost of $13,000 on account (recorded materials and supplies in the materials account).
b. Issued raw materials to be used in production, costing $47,000, and miscellaneous factory supplies, costing $15,000.
c. Recorded the payroll, the payments to employees, and the distribution of the wages and salaries earned for the month as follows: factory wages (including $12,000 indirect labor), $41,000; and selling and administrative salaries, $7,000.
Additional account titles include Wages Payable and Payroll. (Ignore payroll withholdings and deductions.)
d. Recognized depreciation for the month at an annual rate of 5% on the building, 10% on the factory equipment, and 20% on the office equipment. The sales and administrative staff uses approximately one-fifth of the building for its offices.
e. Incurred various other expenses totaling $11,000. One-fourth of this amount is allocable to the office function.
f. Transferred total factory overhead costs to Work in Process.
g. Completed and transferred goods with a total cost of $91,000 to the finished goods storeroom.
h. Sold goods costing $188,000 for $362,000. (Assume that all sales were made on account.)
i. Collected accounts receivable in the amount of $345,000.
j. Paid accounts payable totaling $158,000.
Required:
1. Prepare journal entries to record the transactions.
2. Set up T-accounts. Post the beginning trial balance and the journal entries prepared in (1) to the accounts and determine the balances in the accounts on May 31.
3. Prepare a statement of cost of goods manufactured, an income statement, and a balance sheet. (Round amounts to the nearest wholedollar.)

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...