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Gabrus Company produces a product in two departments: (1) Cooking and (2) Finishing. The company uses a process cost acc
Posted: Sun Jul 03, 2022 1:17 pm
by answerhappygod
- Gabrus Company Produces A Product In Two Departments 1 Cooking And 2 Finishing The Company Uses A Process Cost Acc 1 (59.74 KiB) Viewed 10 times
- Gabrus Company Produces A Product In Two Departments 1 Cooking And 2 Finishing The Company Uses A Process Cost Acc 2 (11.62 KiB) Viewed 10 times
Gabrus
Company produces a product in two departments: (1) Cooking and (2) Finishing. The
company uses a process cost accounting system. Accounting Transactions No. Transactions (A) Purchased $60,000 of raw materials for half cash and the rest on account. Units costing $66,000 were completed in the Cooking Department and were transferred to the Finishing Department. (B) Prepare the journal entries to record the preceding transactions for BNC
Company. • List debit transactions first and then list credit transactions. General Journals Debit ($) No. (A) Account Titles and Explanation [Select] Cash [Select] To record purchase of materials [Select] [Select] [Select] Credit ($)
(B) [Select] [Select] To record transfer of units to the Finishing Department [Select] [Select]