PT.

MITCHELL
Adjusting Journal Entries
December 31, 1972
1 Dividend Receivable 300
Dividend Income 300

2 Retained Earnings 3.150

Dividend Preffered Stock Payable 750
Dividend Common Stock Payable 2.400

6 Manufacturing Summary 38.000

Raw Materials 17.000
Goods in Process 21.000
(Opening)

Raw Materials 20.000

Goods in Process 28.000
Manufacturing Summary 48.000
(Closing)

Income Summary 36.000

Finished Goods 36.000
(Opening)

Finished Goods 49.000

Income Summary 49.000
(Closing)

9 Factory Supplies Expense 3.300

Factory Supplies 3.300

10 Office Supplies Expense 2.100

Office Supplies 2.100

11 Bad Debt Expense 1.800

Allowance for Doubtful 1.800
Accounts

12 Depreciation Expense of Buildings 1.700

Accumulated Depreciation 1.700
- Buildings
13 Depreciation Expense of Machinery 3.200
& Equipment
Accumulated Depreciation 3.200
- Machinery & Equipment

14 Depreciation Expense of Office Furniture 500

& Fixture
Accumulated Depreciation - Office 500
Furniture & Fixture

15 Depreciation Expense of Delivery Equipment 1.600

Accumulated Deepreciation 1.600
- Delivery Equipment

16 Tools Expense 2.500

Tools 2.500

17 Patents Expense 500

Patents 500

18 Direct Labor 1.400

Indirect Labor 300
Sales salaries & Commisions 400
Delivery Salaries 200
Salary & Wages Payable 2.300

19 Interest Expense - Bonds 1.000

Interest Bonds Payable 1.000

20 Interest Expense - Notes 600

Interest Notes Payable 600

21 Insuranse Expense 2.600

Prepaid Insurance 2.600
22 Property Taxes Expense 300
Prepaid Property Taxes 300

23 Interest Notes Receivable 200

Interest Notes Income 200

24 Royalty Receivable 350

Income Royalty 350

25 Income Tax Expense 10.000

Income Tax Payable 10.000
209.000 209.000