5 B 9 0 B The following accounts contain information about January's production for Brotto Bold Industries. 11 12 131 14 15 16 17 18 19 20 21 22 Debit Debit Raw Materials 24,785 68,541 17,630 Debit Work In Process 29,856 68,542 44,150 41,174 25,870 Sales Revenue Credit Credit 75,696 157,852 Credit 256,963 256,963 Direct Materials Debit 68,542 Finished Goods Debit 32,585 157,852 15,852 Credit 29,875 11,462 41,337 68,542 Credit 174,585 Selling and Admin Expense. Debit Credit Debit Debit Direct Labor Cost of Goods Sold 174,585 174,585 Debit Credit 7,154 34,578 558 39,965 4,185 44,150 Manufacturing Overhead Credit Credit 41,174

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 20Q: What is the difference between a multi-step and simple income statement?
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A
B
2 The following accounts contain information about January's production for Brotto Bold Industries.
31
4
5
6
7
8
9
10
11
NESSARAND
12
15
20
21
Debit
Debit
Raw Materials
24,785
68,541
17,630
Work In Process
Debit
29,856
68,542
44,150
41,174
25,870
Sales Revenue
Credit
Credit
75,696
157,852
Credit
256,963
256,963
Direct Materials
Debit
68,542
Finished Goods
Debit
32,585
157,852
Credit
29,875
11,462
41,337
68,542
Credit
174,585
15,852
Selling and Admin Expense
Debit
Credit
q
Debit
Debit
Direct Labor
Cost of Goods Sold
174,585
174,585
Debit
Credit
7,154
34,578
558
39,965
4,185
44,150
Manufacturing Overhead
Credit
Credit
41,174
Transcribed Image Text:A B 2 The following accounts contain information about January's production for Brotto Bold Industries. 31 4 5 6 7 8 9 10 11 NESSARAND 12 15 20 21 Debit Debit Raw Materials 24,785 68,541 17,630 Work In Process Debit 29,856 68,542 44,150 41,174 25,870 Sales Revenue Credit Credit 75,696 157,852 Credit 256,963 256,963 Direct Materials Debit 68,542 Finished Goods Debit 32,585 157,852 Credit 29,875 11,462 41,337 68,542 Credit 174,585 15,852 Selling and Admin Expense Debit Credit q Debit Debit Direct Labor Cost of Goods Sold 174,585 174,585 Debit Credit 7,154 34,578 558 39,965 4,185 44,150 Manufacturing Overhead Credit Credit 41,174
What is the correct way to fill out the Cost of Goods Sold and Income Statement?
Transcribed Image Text:What is the correct way to fill out the Cost of Goods Sold and Income Statement?
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