A journal entry debiting Work in Progress would normally NOT be accompanied by a credit to
A)Materials.
B)Finished Goods.
C)Overhead Control.
D)Wages Payable.

Question

Quizplus · Accepted Answer

Work in Progress represents the cost of partially completed goods, and as such, it is a temporary account that needs to be adjusted. A debit to Work in Progress would represent an increase in the cost of goods being produced, but it would not necessarily be accompanied by a credit to another account. As work is completed, the cost is transferred out of Work in Progress to Finished Goods, which represents completed goods that are ready to be sold. Therefore, a journal entry debiting Work in Progress would not be accompanied by a credit to Finished Goods. Materials and Overhead Control are both accounts that represent the cost of producing goods, but they are not directly related to Work in Progress. Wages Payable represents a liability for wages that have been earned but not yet paid, and it is not related to the cost of goods being produced, so it would not be credited in this situation.

A Journal Entry Debiting Work in Progress Would Normally NOT