Journalize the transactions for the company

Reference no: EM133474123

Case: Might Stars produces stars for elementary teachers to reward their students. Might star's trial balance on June 1 is posted on the screenshot. COGM = $47,430, Operating Income=$18,950

Please help answering the requirements below:

Question 1. Journalize the transactions for the company.

Question 2. Open T-accounts for the general ledger, the Raw Materials Inventory subsidiary

ledger, the Work-in-Process Inventory subsidiary ledger, and the Finished Goods Inventory subsidiary ledger. Insert each account balance as given and use the reference Bal. Post the journal entries to the T-accounts using the transaction letters as a reference.

Question 3. Illustrate a trial balance at June 30, 2024.

Question 4. Use the Work-in-Process Inventory T-account to prepare a schedule of cost of goods manufactured for the month of June.

Question 5. Prepare an income statement for the month of June.

Reference no: EM133474123

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