Larned Corporation recorded the following transactions for the just completed month.
Required:
Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Transaction | Particulars | Debit | Credit |
a | Raw Material A/c | 89000 | |
To Bank A/c | 89000 | ||
( Being Raw Material Purchased ) | |||
b | Work in Process A/c | 78000 | |
Manufacturing Overhead A/c | 9000 | ||
To Raw Material A/c | 87000 | ||
( Being raw materials were used in production) | |||
c | labour Wages A/c | 104100 | |
manufactring Overhead A/c | 23900 | ||
To Cash A/c | 128000 | ||
(Being Wages Paid) | |||
d | Manufacturing Overhead A/c | 197000 | |
To Accumulated Depriciation on factory equipment. A/c | 197000 | ||
( Being Depreciation was incurred on factory equipment.) |
Larned Corporation recorded the following transactions for the just completed month. $89,000 in raw materials were...
Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials were purchased on account. b. $87,000 in raw materials were used in production. Of this amount, $79,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $111,500 were paid in cash. Of this amount, $104,100 was for direct labor and the remainder was for indirect labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. $72,000 in raw materials were purchased on account. $70,000 in raw materials were used in production. Of this amount, $57,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $117,500 were paid in cash. Of this amount, $103,500 was for direct labor and the remainder was for indirect labor. Depreciation of $199,000 was incurred on factory equipment. Required: Record the above transactions in...
Larned Corporation recorded the following transactions for the just completed month. a. $90,000 in raw materials were purchased on account b. $88,000 in raw materials were used in production of this amount, $76,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $104,100 was for direct labor and the remainder was for indirect labor. d. Depreciation of $199,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production. Of this amount, $56,000 was for direct materials and the remainder was for indirect materials. c Total labor wages of $127,000 were paid in cash. Of this amount, $102,600 was for direct labor and 32 the remainder was for indirect labor d. Depreciation of $195,000 was incurred on factory equipment. Required:...
Larned Corporation recorded the following transactions for the just completed month. a. $83,000 in raw materials were purchased on account. b. $81,000 in raw materials were used in production. Of this amount, $72,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,500 were paid in cash. Of this amount, $101,400 was for direct labor and the remainder was for indirect labor. d. Depreciation of $195,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a. $75,000 in raw materials were purchased on account. b. $73,000 in raw materials were used in production. Of this amount, $65,000 was for direct materials and the remainder was for indirect materials. C. Total labor wages of $120,500 were paid in cash. Of this amount, $103,900 was for direct labor and the remainder was for indirect labor. d. Depreciation of $196,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a. $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production. Of this amount, $60,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $119,000 were paid in cash. Of this amount, $101,900 was for direct labor and the remainder was for indirect labor. d. Depreciation of $192,000 was incurred on factory equipment Required: Record...
Larned Corporation recorded the following transactions for the Just completed month. a. $82,000 in raw materials were purchased on account b. $80,000 in raw materials were used in production. Of this amount, $67,000 was for direct materials and the remainder was for Indirect materials c. Total labor wages of $107,000 were paid in cash. Of this amount, $100,700 was for direct labor and the remainder was for Indirect labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record...
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were used in production of this amount. $62.000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. d. Depreciation of $175,000 was incurred on factory equipment. Required: Record...
Exercise 3-1 Prepare Journal Entries (L03-1) Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials were purchased on account. b. $87,000 in raw materials were used in production. Of this amount, $75,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $107.000 were paid in cash. Of this amount, $102,900 was for direct labor and the remainder was for indirect labor. d. Depreciation of $193,000 was...