Winnie,Inc

question 98

Multiple Choice

Winnie,Inc.has two processes-Coloring Department and Mixing Department.The company assigned $390,000 to the 6,000 gallons of paint transferred from Mixing Department to Finished Goods Inventory.The journal entry to record completion of processing is ________.

• A)debit Work-in-Process Inventory-Mixing,$390,000; credit Finished Goods Inventory,$390,000
• B)debit Finished Goods Inventory,$390,000; credit Cost of Goods Sold,$390,000
• C)debit Cost of Goods Sold,$390,000; credit Finished Goods Inventory,$390,000
• D)debit Finished Goods Inventory,$390,000; credit Work-in-Process Inventory-Mixing,$390,000

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Definitions:

Puritan Authorities

The leaders and officials within Puritan communities, especially in the 17th century, who enforced strict religious and social codes of conduct.

Massachusetts Bay Colony

A 17th-century British settlement in New England that became one of the early centers of the colony's government, trade, and religion.

Puritan Migrations

This term refers to the movement of English Puritans to North America, particularly to the Massachusetts Bay Colony, in the early 17th century to escape religious persecution.

Connecticut Valley

A major valley in the U.S. known for its fertile land, running through Connecticut and Massachusetts.