Homework Answers
Answers
|
Date |
Description |
Debit |
Credit |
|
Feb-10 |
Raw material inventory |
$5,000 |
|
|
Accounts Payable |
$5,000 |
||
|
(material purchased) |
|||
|
Feb-11 |
Work in Process Inventory |
$4,000 |
|
|
Raw material inventory |
$4,000 |
||
|
(material used) |
|||
|
Feb-16 |
Finished Goods Inventory |
$24,000 |
|
|
Work in Process Inventory |
$24,000 |
||
|
(goods completed and transferred) |
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