49.Total debits and total credits in selected accounts of MMM Company, after closing entries were posted on December 31, 2020 are given below. Debits Credits Materials P 600,000 P 200,000 Goods in process 500,000 300,000 Material purchases 2,500,000 2,500,000 Purchase discounts 100,000 100,000 Transportation in 200,000 200,000 Direct labor 3,000,000 3,000,000 Manufacturing overhead 1,500,000 1,500,000 Finished goods 700,000 400,000 Cost of goods sold was

49.Total debits and total credits in selected accounts of MMM Company, after closing entries were posted on December 31, 2020 are given below. Debits Credits Materials P 600,000 P 200,000 Goods in process 500,000 300,000 Material purchases 2,500,000 2,500,000 Purchase discounts 100,000 100,000 Transportation in 200,000 200,000 Direct labor 3,000,000 3,000,000 Manufacturing overhead 1,500,000 1,500,000 Finished goods 700,000 400,000 Cost of goods sold was

Name: 49.Total debits and total credits in selected accounts of MMM Company,
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Description: 49.Total debits and total credits in selected accounts of MMM Company, after closing entries were posted on December 31, 2020 are given below. Debits Credits Materials P 600,000 P 200,000 Goods in process 500,000 300,000 Material purchases 2,500,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 2MC

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