Question
in January, hansel, inc. production supervisor requisitioned raw materials for production as follows: Job 1 $700, job 2 $900, and job 3 $400, and general
in January, hansel, inc. production supervisor requisitioned raw materials for production as follows: Job 1 $700, job 2 $900, and job 3 $400, and general factory use, $520. Prepare a summary journal entry to record raw materials used using the chart of accounts provided.
chart of accounts
assets | liabilities | stockholders' equity |
cash | accounts payable | common stock |
accounts receivable | unearned revenue | retained earnings |
raw materials inventory | factory wages payable | sales revenue |
work in process inventory | notes payable | cost of goods sold |
factory labor | taxes payable | utilities expense |
manufactuirng overhead | interest payable | supplies expense |
finished goods inventory | employer payroll taxes payable | selling expense |
supplies | employer fringe benefits payable | insurance expense |
prepaid insurance | depreciation expense | |
equipment | ||
building | ||
land | ||
accumulated depreciation |
list debit transactions first and then list credit transactions.
use accounts provided in the chart of accounts above. do not create your own account.
when typing your responses, do not include a dollar sign. for example, if your answer $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign.
general journals
date | accounts titles and explanation | debit ($) | credit ($) |
1/31 | 2,000 | ||
to record raw materials used |
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