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label Accounting
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schedule 1 Day
account_balance_wallet $5

Prepare the adjusting entry for each company at December 31, assuming the adjustment is made to cost of goods sold?

At December 31, balances in Manufacturing Overhead are Shimeca Company—debit $1,200, Garcia Company—credit $900.

Jan 20th, 2015

                                                              Shimeca Company

                                                                                                           Dr                  Cr

                                                                                                            $                    $

December 31,    Manufacturing Overhead                                       1,200

                                     Cost of goods sold                                                            1,200

                        (to record balance of manufacturing overhead)


                                                              Garcia Company

                                                                                                           Dr                  Cr

                                                                                                            $                    $

December 31,    Cost of goods sold                                                900

                                     Manufacturing Overhead                                                   900

                        (to record balance of manufacturing overhead)


Jan 20th, 2015

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