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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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3 0
3 years ago
Which type of analysis would be most useful to someone buying a product at a store?
tatuchka [14]
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8 0
3 years ago
Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 Raw materials $ 35,000 $ 49
Kobotan [32]

$7,700

Explanation:

$18,500 - $6,000 - $4,800 = 7,700

4 0
3 years ago
Economists argue that:_______.
lawyer [7]

Answer:

d. ​every decision has an opportunity cost.

Explanation:

Opportunity cost is the next best option forgone when one alternative is chosen over other alternatives.

Accounting cost only includes explicit cost.

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I hope my answer helps you

4 0
4 years ago
The capital budget forecast for the Santano Company is $725,000. The CFO wants to maintain a target capital structure of 45% deb
mixas84 [53]

Answer:

a. $ 898,750 55.63%

Explanation:

The computation of the expected dividend payout ratio is shown below:

Expected dividend pay out ratio = 100 - {(capital budget × equity ratio) ÷ (net income}  × 100

= 100 - {($725,000 × 55%) ÷ ($898,750} × 100

= 100 - ($398,750 ÷ $898,750) × 100

= 100 - 44.37%

= 55.63%

The net income is

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= $398,750 + $500,000

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6 0
3 years ago
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