Question

Santiago Company has provided data for the year-end adjustments as follows:

Factory overhead to be applied to work in process ending inventory $14,687
Interest receivable 1,554
Office supplies used 5,807
Factory supplies used 8,611
Provision for uncollectible accounts (based on percentage of sales) 11,734
Insurance expired on factory building and equipment 2,734
Depreciation on factory building 16,490
Depreciation on factory equipment 6,608 ​

Prepare the year-end adjusting entries in general journal form.

Answer 1

Answer:

J1

Work In Process $14,687 (debit)

Overheads $14,687 (credit)

J2

Interest receivable $1,554 (debit)

Interest Income $1,554 (credit)

J3

Office supplies $ 5,807 (debit)

Cash  $ 5,807  (credit)

J4

Work In Process $8,611 (debit)

Cash $8,611 (credit)

J5

Bad Debts 11,734 (debit)

Allowance for Doubtful Debts 11,734 (credit)

J6

Work In Process: Insurance $2,734 (debit)

Cash $2,734 (credit)

J7

Depreciation : factory building 16,490 (debit)

Accumulated Depreciation : factory building 16,490 (credit)

J8

Depreciation : factory equipment 6,608 (debit)

Accumulated Depreciation : factory equipment 6,608 (credit)

Explanation:

Record the Journal Entries appropriately in the Work In Process Account.

Answer 2

Answer:

The answer is

Explanation:

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