476 Sublet Repairs – Body Shop
Sales
Fixed Operations
Sales Synopsis
Account 476 is established to record the amount of Body Shop repairs that are sub-contracted to outside suppliers and vendors.
Debits |
Credits |
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676 Sublet Repairs – Body Shop
Cost of Sales
Fixed Operations
Cost of Sales Synopsis
Account 676 is established to record the Cost of Sales for the Sublet Body Shop repairs sold above.
Debits |
Credits |
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Example 1
Record a body shop repair order for $744 that includes towing from an outside company. Both the body labor sale and paint labor sale are both $100 each. The sublet repair is $75 and the part sale is $407 and the paint and body shop materials cost is $40. The cost for both the body and paint labor is $30 each. The cost of the sublet repair is $60. The parts cost is $285 and the cost of the paint and body shop materials is $28.
Journal: Service Sales - Cash
Entry: |
|
Debit |
Credit |
Account 225 |
Cash Sales |
$744 |
|
Account 670 |
Cost of Sales – Customer Paint Labor – Cars & Trucks |
$30 |
|
Account 671 |
Cost of Sales – Customer Body Labor – Cars & Trucks |
$30 |
|
Account 676 |
Cost of Sales – Sublet Repairs – Body Shop |
$60 |
|
Account 677 |
Cost of Sales – Parts – Body Customer Repair Orders – Cars & Trucks |
$285 |
|
Account 679 |
Cost of Sales – Paint & Body Shop Materials |
$28 |
|
Account 242 |
Inventory – Parts & Accessories |
|
$285 |
Account 245 |
Inventory – Paint & Body Shop Materials |
|
$28 |
Account 246 |
Inventory – Sublet Repairs |
|
$60 |
Account 247B |
Inventory – Work in Process – Body Shop |
|
$60 |
Account 324 |
Accounts Payable – Sales Taxes |
|
$22 |
Account 470 |
Sales – Customer Paint Labor – Cars & Trucks |
|
$100 |
Account 471 |
Sales – Customer Body Labor – Cars & Trucks |
|
$100 |
Account 476 |
Sales – Sublet Repairs – Body Shop |
|
$75 |
Account 477 |
Sales – Parts – Body Customer Repair Orders – Cars & Trucks |
|
$407 |
Account 479 |
Sales – Paint & Body Shop Materials |
|
$40 |