Larned Corporation recorded the following transactions for the just completed month. a. $81,000 in raw...

60.1K

Verified Solution

Question

Accounting

image
image
image
image
Larned Corporation recorded the following transactions for the just completed month. a. $81,000 in raw materials were purchased on account b. $79,000 in raw materials were used in production. Of this amount, $66,000 was for direct materiais and the remainder was for indirect materials. c. Total labor wages of $130,000 were paid in cash. Of this amount, $100,800 was for direct labor and the remainder was for indirect labor, d. Depreciation of $197,000 was incurred on factory equipment. Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field.) Journal entry worksheet Natel Enter detiln betore credita. a. $81,000 in raw materials were purchased on account. b. $79,000 in raw materials were used in production. Of this amount, $66,000 was for direct materials indirect materials. c. Total labor wages of $130,000 were paid in cash. Of this amount, $100,800 was for direct laber and labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, selec the first account field.) Journal entry worksheet $79,000 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. Note: Enter debits before credits. Lamed Corporation recorded the following transactions for the just completed month. a. $81,000 in raw materials were purchased on account. b. $79,000 in raw materials were used in production. Of this amount, $66.000 was for direct materials indirect materials. c. Total labor wages of $130,000 were paid in cash. Of this amount, $100,800 was for direct labor and labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record the above transactions in journal entries. (if no entry is required for a transaction/event, selec the first account field.) Journal entry worksheet Total labor wages of $130,000 were pald in cash. Of this amount, $100,800 was for direct labor and the remainder was for indirect labor. Note: Enter debits before credits. a. $81,000 in raw materials were purchased on account b. $79,000 in raw materials were used in production. Of this amount, $66.000 was for direct materie indirect materials. c. Total labor wages of $130,000 were paid in cash. Of this amount, $100,800 was for direct labor an labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record the above transactions in journal entries. (if no entry is required for a transaction/event, sele the first account field.) Journal entry worksheet Depreciation of $197,000 was incurred on factory equipment. Note: Enter debits before credits

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students