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likoan [24]
1 year ago
6

Materials purchased on account during the month amounted to $190,000. Materials requisitioned and placed in production totaled $

156,000. The entry to record the transaction for materials requisitioned by the production department is to
Debit______________
Credit_____________
Business
1 answer:
svetoff [14.1K]1 year ago
5 0

The entry to record the transaction for materials requisitioned by the production department is to

Debit WIP $156,000

Credit Materials $156,000

Organization accountants should account for direct and indirect materials one after the other. The magazine entry for direct substances, this is, substances that can be without delay traced to merchandise, is a debit to the paintings in technique and a credit to the raw materials inventory accounts.

To file materials used in manufacturing, a debit for the value of raw substances is made to the WIP inventory account and a credit score is made to the raw substances account. Exertion fees are spilt between direct and indirect labor.

Learn more about transactions here brainly.com/question/1016861

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The bookkeeper for Sunland Company asks you to prepare the following accrual adjusting entries at December 31. (If no entry is r
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Answer:

(a) Dec 31:

Dr Interest Expense 370

Cr Interest Payable 370

(b) Dec 31:

Dr Account Receivable 1,830

Cr Service Revenue 1,830

(c) Dec 31:

Dr Salaries & wages expense 900

Cr Salaries & wages payable 900

Explanation:

Preparation of Journal entries

(a) Based on the information given we were told that Interest on notes payable of the amount of $370 was accrued which means that the Journal entry will be:

Dec 31

Dr Interest Expense 370

Cr Interest Payable 370

(To record accrued interest on note payable)

(b) Based on the information given we were told that Services was performed but unbilled totals of the amount of $1,830 which means that the Journal entry will be :

Dec 31

Dr Account Receivable 1,830

Cr Service Revenue 1,830

(To record unbilled service revenue)

(c) Based on the information given we were told that Salaries of the amount of $900 earned by employees have not been recorded which means that the Journal entry will be :

Dec 31

Dr Salaries & wages expense 900

Cr Salaries & wages payable 900

(To record salaries earned but not recorded)

4 0
3 years ago
If the MPC is 0.60 and disposable income decreases from $11,000 billion to $10,000 billion, savings will decrease by
marissa [1.9K]

Answer:

the decrease in the savings is $600 billion

Explanation:

The computation of the decrease in the savings is shown below;

The difference in the income is

= $11,000 billion - $10,000 billion

= $1,000 billion

Now the decrease in the savings is

= 0.60 × $1,000 billion

= $600 billion

Hence the decrease in the savings is $600 billion

The same is to be considered and relevant

3 0
2 years ago
________ variables, from countries to neighborhoods, are the units that may be considered in developing a segmentation strategy.
Taya2010 [7]

Answer:C

Explanation:

7 0
3 years ago
Pelcher Co. maintains a $400 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date repr
vichka [17]

Answer:

Dr.Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Cr. Cash over and short, $4; Cr. Cash, $316

Explanation:

The journal entries are shown below:

1. Petty cash A/c Dr $400

       To Cash A/c              $400

(Being petty cash fund established)

2. Office supplies A/c Dr $110

   Merchandise inventory A/c Dr $140

   Miscellaneous expense A/c Dr $70

                                            To Cash over and short A/c Dr $4  

                                            To Cash A/c Dr $316

(Being disbursement of cash recorded)

6 0
2 years ago
Read 2 more answers
Required information Exercise 6-9A Record transactions using a perpetual system (LO6-5) Skip to question [The following informat
Korolek [52]

Answer:

Littleton Books

Journal Entries:

May 2 Debit Inventory $3,300

          Credit Accounts Payable (Readers Wholesale) $3,300

To record the purchase of books on account, terms, 1/10, n/30.

May 3 Debit Freight-in $200

          Credit Cash Account $200

To record the payment of freight costs for books purchased from Readers.

May 5 Debit Accounts Payable (Readers Wholesale) $400

          Credit Inventory $400

To record the return of books.

May 10 Debit Accounts Payable (Readers Wholesale) $2,900

            Credit Cash Discount Received $29

            Credit Cash Account $2,871

To record the settlement of account.

May 30 Debit Accounts Receivable $4,000

            Credit Sales Revenue $4,000

To record the sale of books on account.

May 30 Debit Cost of goods sold $2,900

            Credit Inventory $2,900

To record the cost of goods sold.

Explanation:

The journal entries in Littleton Books' accounting records show the accounts to be debited and credited as they occur on a daily basis.

6 0
2 years ago
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