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777dan777 [17]
4 years ago
12

Sunland Company purchases $50,400 of raw materials on account, and it incurs $61,300 of factory labor costs. Journalize the two

transactions on March 31, assuming the labor costs are not paid until April.
No. Date Account Titles and Explanation Debit Credit
a) Mar. 31

b) 31
Business
1 answer:
lisabon 2012 [21]4 years ago
6 0

Answer:

A. Mar 31

Dr Raw materials $50,400

Cr Account pay $50,400

B. 31

Dr Factory labour $61,300

Cr Factory wages $61,300

Explanation:

Preparation of the Journal entries for Sunland Company

A. Since we were told that the company purchases the amount of $50,400 of raw materials on account this means that the transaction will be recorded as:

Mar 31

Dr Raw materials $50,400

Cr Account pay $50,400

B. Based on the information given we were told that the company incurs the amount of $61,300 of factory labor costs this means that the transaction will be recorded as:

31

Dr Factory labour $61,300

Cr Factory wages $61,300

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Answer:

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Therefore, to calculate the total markdown dollars we would have to make the following calculation according to the given data:

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We purchased a building with a market value of $150,000 for $125,000 cash. The seller paid $50,000 when they originally purchase
Aleksandr [31]

Answer:

$125,000

Explanation:

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6 0
3 years ago
A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 7 percent decrease in the
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Answer:

Option A

Explanation:

Complete Question

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Solution -

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