Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $ 46,300. 2. Raw Materials of $ 36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $ 6,800 was classified as indirect materials. 3. Factory labor costs incurred were $ 59,900, of which $ 51,000 pertained to factory wages payable and $ 8,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $ 54,000 was direct labor and $ 5,900 was indirect labor. 5. Manufacturing overhead costs incurred on account were $ 80,500. 6. Depreciation on the company’s office building was $ 8,100. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $ 88,000 were completed and transferred to finished goods. 9. Finished goods costing $ 75,000 to manufacture were sold on account for $ 103,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (2) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (3) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (4) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (5) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (6) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (7) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (8) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (9) enter an account title To record the sale enter a debit amount enter a credit amount enter an account title To record the sale enter a debit amount enter a credit amount (To record the sale) enter an account title To record the cost of the sale enter a debit amount enter a credit amount enter an account title To record the cost of the sale enter a debit amount enter a credit amount (To record the cost of the sale)
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $ 46,300. 2. Raw Materials of $ 36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $ 6,800 was classified as indirect materials. 3. Factory labor costs incurred were $ 59,900, of which $ 51,000 pertained to factory wages payable and $ 8,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $ 54,000 was direct labor and $ 5,900 was indirect labor. 5. Manufacturing overhead costs incurred on account were $ 80,500. 6. Depreciation on the company’s office building was $ 8,100. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $ 88,000 were completed and transferred to finished goods. 9. Finished goods costing $ 75,000 to manufacture were sold on account for $ 103,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (2) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (3) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (4) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (5) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (6) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (7) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (8) enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (9) enter an account title To record the sale enter a debit amount enter a credit amount enter an account title To record the sale enter a debit amount enter a credit amount (To record the sale) enter an account title To record the cost of the sale enter a debit amount enter a credit amount enter an account title To record the cost of the sale enter a debit amount enter a credit amount (To record the cost of the sale)
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter2: Working With The Tax Law
Section: Chapter Questions
Problem 3RP
Related questions
Question
Crawford Corporation incurred the following transactions.
|
1.
|
Purchased raw materials on account $ 46,300. | |
|---|---|---|
|
2.
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Raw Materials of $ 36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $ 6,800 was classified as indirect materials. | |
|
3.
|
||
|
4.
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Time tickets indicated that $ 54,000 was direct labor and $ 5,900 was indirect labor. | |
|
5.
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Manufacturing |
|
|
6.
|
||
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7.
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Manufacturing overhead was applied at the rate of 150% of direct labor cost. | |
|
8.
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Goods costing $ 88,000 were completed and transferred to finished goods. | |
|
9.
|
Finished goods costing $ 75,000 to manufacture were sold on account for $ 103,000. |
Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
|
No.
|
Account Titles and Explanation
|
Debit
|
Credit
|
|---|---|---|---|
|
(1)
|
enter an account title
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enter a debit amount
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enter a credit amount
|
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
(2)
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enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
(3)
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enter an account title
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enter a debit amount
|
enter a credit amount
|
|
|
enter an account title
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enter a debit amount
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enter a credit amount
|
|
|
enter an account title
|
enter a debit amount
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enter a credit amount
|
|
(4)
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enter an account title
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enter a debit amount
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enter a credit amount
|
|
|
enter an account title
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enter a debit amount
|
enter a credit amount
|
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
(5)
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enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title
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enter a debit amount
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enter a credit amount
|
|
(6)
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enter an account title
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enter a debit amount
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enter a credit amount
|
|
|
enter an account title
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enter a debit amount
|
enter a credit amount
|
|
(7)
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
(8)
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
(9)
|
enter an account title To record the sale
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title To record the sale
|
enter a debit amount
|
enter a credit amount
|
|
|
(To record the sale) | ||
|
|
enter an account title To record the cost of the sale
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title To record the cost of the sale
|
enter a debit amount
|
enter a credit amount
|
| (To record the cost of the sale) |
Transcribed Image Text:O Chapter 15 Homework
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Question 14 of 15
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Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No. Account Titles and Explanation
Debit
Credit
(1)
(2)
(3)
(4)
(5)
Transcribed Image Text:O Chapter 15 Homework
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Question 14 of 15
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(5)
(6)
(7)
(8)
(9)
(To record the sale)
(To record the cost of the sale)
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