Question
In: Accounting
Letters (a)–(g) represent several recent transactions that were posted to some of Johnson Company’s T-accounts. Raw...
Letters (a)–(g) represent several recent transactions that were posted to some of Johnson Company’s T-accounts.
| Raw Materials Inventory | |
| (a) | (b) |
| Manufacturing Overhead | |
| (c) | (e) |
| Work in Process Inventory | |
| (b) | (f) |
| (d) | |
| (e) | |
| Finished Goods Inventory | |
| (f) | (g) |
| Cost of Goods Sold | |
| (g) | |
Required:
Assign letters (a)–(g) to the following
descriptions to indicate how the transactions would be recorded in
the T-accounts. The purchase of raw materials is provided
as an example, where the letter (a) represents a debit to
Raw Materials Inventory.
Solutions
Expert Solution
a) Purchase of raw material
b) Use of raw material in production
c) Actual manufacturing overhead
e) Applied manufacturing overhead
d) Direct labour cost
f) Cost of goods manufactured
g) Cost of goods sold
ekkarill92 answered 2 years agoRelated Solutions
The following T-accounts represent September activity. Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity.
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
7,500
(a)
4,300
(b)
EB (9/30)
10,500
Work-In-Process
Inventory
BB (9/1)
20,600
180,500
(e)
121,000
87,700
EB (9/30)
18,000
Finished Goods
Inventory
BB (9/1)
13,800
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
397,300
Applied Overhead
Control
(d)
Manufacturing Overhead
Control
121,000
4,300
36,200
30,600
2,200
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated
Depreciation—Plant...
The following T-accounts represent September activity. Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity.
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
7,500
(a)
4,000
(b)
EB (9/30)
9,300
Work-In-Process Inventory
BB (9/1)
22,600
181,500
(e)
121,000
84,200
EB (9/30)
19,000
Finished Goods Inventory
BB (9/1)
13,300
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
397,700
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
4,000
36,200
30,700
4,900
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
8,000
(a)
5,100
(b)
EB (9/30)
9,600
Work-In-Process Inventory
BB (9/1)
20,800
179,200
121,000
98,300
EB (9/30)
17,000
Finished Goods Inventory
BB (9/1)
14,900
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
396,900
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
5,100
36,200
34,000
2,500
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant &...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters (a) through
(i).
Materials Inventory
BB (9/1) 8,000
(a) 5,200
(b)
EB (9/30) 8,800
Work-In-Process Inventory
BB (9/1) 21,800
179,100
121,000
94,000
EB (9/30) 15,900
Finished Goods Inventory
BB (9/1) 13,500
(e) (f)
EB (9/30) (g)
Cost of Goods Sold
397,000
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
5,200
36,200
34,300
3,500
Wages Payable
124,300
162,000 (c)
36,200
119,500 EB (9/30)
Accumulated Depreciation—Plant &...
The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters (a)...
The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB (9/1)
8,000
(a)
4,900
(b)
EB (9/30)
8,900
Work-In-Process Inventory
BB (9/1)
21,100
180,700
121,000
99,200
EB (9/30)
18,500
Finished Goods Inventory
BB (9/1)
14,300
(e)
(f)
EB (9/30)
(g)
Cost of Goods Sold
396,400
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
4,900
36,200
30,100
4,400
Wages Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant &...
38. The following transactions were journalized and posted to the proper accounts for Carlos, Inc. Prepare...
38. The following transactions were journalized and posted to
the proper accounts for Carlos, Inc. Prepare a trial balance at the
end of the first month using the following details: a) Carlos,
Inc., received $15,000 cash and issued common stock. b) Carlos,
Inc. paid the first month's rent with $900 cash. c) Purchased
equipment by paying $4,000 cash and also signing a note payable for
another $4,500. d) Purchased office supplies for $200 cash. The
supplies remain at the end...
6. The following T-accounts represent September activity: Required: Compute the missing amounts indicated by the letters...
6. The following T-accounts represent September activity:
Required:
Compute the missing amounts indicated by the letters
(a) through (i).
Materials Inventory
BB
(9/1)
8,000
(a)
5,100
(b)
EB (9/30)
9,600
Work-In-Process Inventory
BB
(9/1)
20,800
179,200
121,000
98,300
EB (9/30)
17,000
Finished Goods Inventory
BB
(9/1)
14,900
(e)
(f)
EB (9/30)
(g)
Cost
of Goods Sold
396,900
Applied Overhead Control
(d)
Manufacturing Overhead Control
121,000
5,100
36,200
34,000
2,500
Wages
Payable
124,300
162,000
(c)
36,200
119,500
EB (9/30)
Accumulated Depreciation—Plant...
Transactions and T Accounts The following selected transactions were completed during March of the current year:...
Transactions and T Accounts
The following selected transactions were completed during March
of the current year:
Billed customers for fees earned, $50,700.
Purchased supplies on account, $2,180.
Received cash from customers on account, $47,660.
Paid creditors on account, $1,320.
a. Journalize the transactions in a two-column
journal, using the appropriate number to identify the
transactions.
(1)
(2)
(3)
(4)
b. Post the entries prepared in (a) to the
following T accounts: Cash, Supplies, Accounts Receivable, Accounts
Payable, Fees Earned. To...
create T-accounts and balance sheet for the following question (this is one of several transactions) First...
create T-accounts and balance sheet for the following question
(this is one of several transactions)
First quarter of 2017: The firm (1) sells the 200 standard mugs
in inventory to a customer who pays cash and picks up the mugs from
the firm’s storage area and (2) receives an order for 8000 standard
mugs. The supplier agrees to produce the mugs and ship directly to
the customer; the firm agrees to pay the shipping cost ($390 for
8,000 mugs) to...
The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes...
The following T accounts show transactions that were recorded by
Residential Relocators, a firm that specializes in local housing
rentals.
Cash
(a)
172,000
(b)
28,000
(d)
12,000
(e)
520
(g)
1,200
(h)
9,200
(i)
3,200
Equipment
(c)
62,000
Accounts Receivable
(f)
11,600
(g)
1,200
Accounts Payable
(c)
62,000
Supplies
(b)
28,000
Wade Wilson,
Capital
(a)
172,000
Fees Income
(d)
12,000
(f)
11,600
Telephone Expense
(e)
520
Wade Wilson,
Drawing
(i)
3,200
Salaries Expense
(h)
9,200
Prepare a statement of
owner’s...
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