Reference no: EM132725321
Problem - A partial work sheet for Baldwin Company is shown on the next page. Data for adjusting the accounts are as follows:
(a) Factory overhead to be applied to work in process ending inventory $3,600
(b) Interest receivable 140
(c) Interest payable 1,200
(d) Estimate of uncollectible accounts, based on an aging of accounts receivable 2,370
(e) Office supplies consumed 3,700
(f) Factory supplies consumed 4,200
(g) Insurance on factory building and equipment expired 5,100
(h) Factory building depreciation 5,000
(i) Factory equipment depreciation 4,000
(j) Underapplied factory overhead 1,300
(k) Provision for corporate income taxes 5,900
Required -
1. Prepare the December 31 adjusting journal entries for Baldwin Company.
2. Prepare the December 31 closing journal entries for Baldwin Company.
3. Prepare the reversing journal entries as of January 1, 20-2, for Baldwin Company.
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