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M. Rags Ledger 7

The document shows accounting entries for Cost of Goods Sold, Selling & Administrative Expenses, and Depreciation Expense - Selling & Administrative accounts over two months. It includes beginning balances, expenses, adjustments, and ending balances for each account.

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rmprems
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22 views1 page

M. Rags Ledger 7

The document shows accounting entries for Cost of Goods Sold, Selling & Administrative Expenses, and Depreciation Expense - Selling & Administrative accounts over two months. It includes beginning balances, expenses, adjustments, and ending balances for each account.

Uploaded by

rmprems
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Account Title Cost of Goods Sold Account No.

500
           
P
Date Explanation Debit Credit Balance
R
Nov
30 Beginning Balance       206310
.
Dec 31 Cost for the Dec sale   33325   239635
Dec 31 Adjustment of underallocated OH   3758   243393
Dec 31 Income Summary     243393 0
            0
            0
            0
            0

Account Title Selling & Administrative Expenses Account No. 600


           
P
Date Explanation Debit Credit Balance
R
Nov
30 Beginning Balance       49204
.
Dec 31 Rent expired   800   50004
Dec 31 For supplies & misc. expenses   8400   58404
Dec 31 Income Summary     58404 0
            0
            0

Account Title Depreciation Expense – Selling & Administrative Account No. 610
           
P
Date Explanation Debit Credit Balance
R
Nov
30 Beginning Balance       0
.
Dec 31 Depreciation charged for the equipment   460   460
Dec 31 Income Summary     460 0
            0
            0
            0

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