In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $30,800 and Job 11 $35,000. On March 31, Job 10 is sold to the customer for $42,500 in cash.

Journalize the entries for the completion of the two jobs and the sale of Job 10.

Question

Business

Donaldson

15 January, 12:55

In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $30,800 and Job 11 $35,000. On March 31, Job 10 is sold to the customer for $42,500 in cash.

Journalize the entries for the completion of the two jobs and the sale of Job 10.

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Stella Maxwell · Answer 1

When Job is completed

Dr. Cr.

Finished Goods $65,800

Work in process Job 10 $30,800

Work in process Job 11 $35,000

When Job 10 is sold

Dr. Cr.

Cash / Account Receivable $42,500

Sales $42,500

Cost of Goods Sold $30,800

Finished Goods Inventory $30,800

In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $30,800 and Job 11 $35,000. On March 31, Job 10 is sold to the customer for $42,500 in cash.Journalize the entries for the completion of the two jobs and the sale of Job 10.

In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $30,800 and Job 11 $35,000. On March 31, Job 10 is sold to the customer for $42,500 in cash.

Journalize the entries for the completion of the two jobs and the sale of Job 10.