Unit of Measure Quantity Purchased Price per Extended Total Cost Item Unit Rolls 120 $4 $480 Shop Towels Quarts 75 $9 $675 Degreasing Fluid Tubes 40 $6 $240 Gasket Sealer Total $1,395 On July 1, Martha paid cash for the supplies and set the accounting policy that all supplies would initially be recorded in the Supplies asset account. At the end of July, Martha counted the supplies that were left and prepared the following listing: Unit of Measure Quantity Remaining Item Rolls 80 Shop Towels Quarts 65 Degreasing Fluid Tubes 32 Gasket Sealer At the end of August, Martha counted the supplies that were left and prepared the following listing: Quantity Remaining Unit of Item Measure Rolls 55 Shop Towels Quarts 48 Degreasing Fluid Tubes 22 Gasket Sealer The following is a partial list of the accounts in Martha's General Ledger. These are the only accounts you need for this problem. D Cash D Supplies P Supplies Expense

Unit of Measure Quantity Purchased Price per Extended Total Cost Item Unit Rolls 120 $4 $480 Shop Towels Quarts 75 $9 $675 Degreasing Fluid Tubes 40 $6 $240 Gasket Sealer Total $1,395 On July 1, Martha paid cash for the supplies and set the accounting policy that all supplies would initially be recorded in the Supplies asset account. At the end of July, Martha counted the supplies that were left and prepared the following listing: Unit of Measure Quantity Remaining Item Rolls 80 Shop Towels Quarts 65 Degreasing Fluid Tubes 32 Gasket Sealer At the end of August, Martha counted the supplies that were left and prepared the following listing: Quantity Remaining Unit of Item Measure Rolls 55 Shop Towels Quarts 48 Degreasing Fluid Tubes 22 Gasket Sealer The following is a partial list of the accounts in Martha's General Ledger. These are the only accounts you need for this problem. D Cash D Supplies P Supplies Expense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ces Georgetown purchased supplies on August 8, 20X2, for $4,400. At the fiscal year-end on September 30, the inventory of suppiles was $3,150. Required: a. Assume that Georgetown uses the consumption method of accounting for inventories. (If no entry is required for a transaction/event, select "No Journal entry required in the first account field.) (1) Prepare the entry for the purchase on August 8, 20X2 (2) Prepare the entries required on September 30, 20X2, including the closing of the Expenditures account. (3) Assuming the supplies were used during 20X3, prepare the entries on September 30, 20X3. View transaction list Journal entry worksheet
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PROBLEMS Instructions: Supply the answer supported by computations in good form using your worksleet. 000 0A Problem 1-1. Bayo Dress Shop makes evening dresses. The following information has been gathered from the company records of 2019, the first year of company operations. Work in Process Inventory at the end of the year was P100,000. 008 Raw materials purchased on account, of which only P2,350,000 75% were paid during the year. 00 Raw materials issued to production, of which 25% is indirect materials 1,940,000 Accrued factory payroll (80% is direct labor) Depreciation of sewing and computer equipment Utilities paid Factory insurance expired Factory rent including P50,000 deposit usqmo MM 960,000o 1,350,000 80,000 320,000 17,500 no bro 000,01 to 1ey Bayo Dress Shop applies actual overhead to production. es[o 00 00aw bias i yunst no 000,0809 26w yosval 0e srut no 00, elsisir
Prepare General journal entries for the given question
Refer to the following information from a long term care facility for questions 6-10. April May June Ending Food Inventory 2319 2831 2462 Food Purchased 8126 9037 8496 Labor costs 12363 11974 12197 Supply costs 512 592 551 6282 Operating Costs 6791 6547 119 121 123 Average Daily Census What is the value of the food used in June? OA. $11,327 B. $10,958 O C. $8496 O D. $8865 QUESTION 7 Click Save and Submit to save and submit. Click Save All Answers to save all answers.
ASsignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Calculator Marzoni's records show raw materials inventory had a beginning balance of $100 and an ending balance of $200. If the cost of materials used during the month was $700, what were the purchases made during the month? ( Previous Next All work saved. Email Instructor Submit Test for Grading 4:42 PM ② へコ 3 10/2/2020 ((p ツ %24
Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 201 Aluminum 500 $85,480 202 Plastic 503 27,460 203 Rubber 504 3,520 204 Glue Indirect 2,280 205 Steel 510 36,420 Journalize the entry to record the issuance of materials. For a compound transaction, if an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9
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A. Prepare journal entries to record the transactions. B. Prepare T-accounts to show the flow of costs during the period from Material Inventory throughly Cost of Goods sold.
The Sauron Company's accounting information system shows the following Information: Work in process inventory, Direct materials Direct naterials inventory Sunnary of all additions to work in process during May Мay 31 Dr $ 148,000 Cr $ 140,000 On April 30, a breakdown of the balance In the work in process account showed that direct materials accounted for $40,000 of the total balance. There were 12.000 units in work in process Inventory on that date. During May no new units were Introduced Into production and all 12000 units in beginning work in process were completed and transferred out. Requlred: Calculate the cost per equivalent unit for materlals for May. Cost per equivalent unit for materials
This topic is about inventories. Please check the picture for the problem and requirement.
Question 7. Part 4. Please fill in the blanks in the same format as the question