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QUESTION
At December 31, balances in Manufacturing Overhead are Shimeca Companydebit $1,200, Garcia Companycredit $900.
At December 31, balances in Manufacturing Overhead are Shimeca Company—debit $1,200, Garcia Company—credit $900. Prepare the adjusting entry for each company at December 31, assuming the adjustment is made to cost of goods sold.
Adjusting entry in the books of Shimeca CompanyDateAccount TitleDebitCreditDec-31 Cost of Goods sold1,200Manufacturing Overhead1,200 Adjusting entry in the books of Garcia CompanyDate...