The Cost Cycle & Normal Job Order Cost System

Assets = Liabilities + Shareholder's Equity

Current Current Capital Income Statement
Direct Materials Work In Process Finished Goods Vouchers Payable Common Shares Retained Earnings Sales Cost of Sales
Bi Bi Bi
Add dm Add
Gap 0 dl gas 0 0
Ei 0 foh Ei 0
cpc 0
tcpc 0
Ei 0
Prepaid Expenses Accrued Payroll Factory O'h Control

Proration of over applied FOH bal 0

Ei WIP
Ei FG
COS

Long Term
Allowance for Depr Job Order Sub Ledger
Job Order Direct Material Direct Labour Factory Overhead Total
Number $ Hours S Hours $ Costs $
0
0
0
0
0
Total 0 0 0 0 0

0
 The Cost Cycle & Normal Job Order Cost System
Blanket p.o. Auto MFG
Assets = Liabilities + Shareholder's Equity
Current Conversion Cycle Current Capital Income Stateme
Direct Materials Work In Process Finished Goods Vouchers Payable Common Shares Retained Earnings Sales
Bi Bi Bi
Add Inputs---------> dm Outputs-------> Add
Gap 0 M dl M gas 0 M M
Ei #VALUE! foh Ei 0
cpc 0
tcpc 0
Ei #VALUE!
Prepaid Expenses 4 physical functions Move Entries Accrued Payroll
2 accounting functions Pricing-Job Order Sub Ledger Revenue Cycle
-Close FOH Revenue bal

General Ledger Cycle

Long Term General Ledger
Assets M-move entries Job Order Sub Ledger
Job Order Direct Material Direct Labour Factory Overhead Total
Number $ Hours S Hours $ Costs $
301 Actual Actual Applied #VALUE!
302 0
303 0
304 0
Purchase Cycle 305 0
Allowance for Depr 1. Inventory and other Total 0 0 0 0 #VALUE!
2. Fixed Assets
3. Payroll 0
Shareholder's Equity
Income Statement
Cost of Sales

Factory O'h Control

0
Actual Applied
 Financial Accounting Cycle with Sub Journals and Ledgers
ASSETS = LIABILITIES + OWNERS EQUITY
B/S Capital + Retained Earnings +Revenue - Expenses I/S

Cash Cash Rec. Cash

Receipts Journal Receipts
A/R Sub
Ledger

Sales Credit
Credit Sales
Journal Sales

1 2 3 4 5 6 7 8 9
General General Trial Adjusting Adj.Trial Financial Closing Post Close
Journal Ledger Balance Entries Balance Statements Entries Trial Bal.
Source
Documents

Credit Purchase Credit Conversion/Cost Cycle

Purchases Journal Purchases

A/P Sub
Ledger
Payment Cash Disb. Payments
Cheques Journal Cheques