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22 March, 08:16

Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units wasâ $750. What is the journal entry to record theâ transfer? Date Accounts and Explanation Debit Credit A. Work-in-Process Inventory-Dept. 1 750 Work-in-Process Inventary-Debit. 2 750 B. Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventary Debit. 1 750 C. Work-in-Process Inventary-Dept. 2 750 Cost of Goods Sold 750 D. Cost of Goods Sold 750 Work-in-Process Inventory-Dept. 1 750

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  1. 22 March, 08:27
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    B. Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventary Debit. 1 750

    Explanation:

    The journal entry to record this transaction is shown below:

    Work-in-Process Inventory A/c - Department 2 $750

    To Work-in-Process Inventory A/c - Department 1 $750

    (Being the completed units are transferred)

    For recording this transaction we debited the work in process department 2 and credited the work in process department 1
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Home » Business » Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units wasâ $750. What is the journal entry to record theâ transfer? Date Accounts and Explanation Debit Credit A. Work-in-Process Inventory-Dept.
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