During January, its first month of operations, Crane Company accumulated the following manufacturing costs: raw materials purchased $5.200 on account, factory labor incurred $6,200, and factory utilities payable $2.700 Prepare separate journal entries for each type of manufacturing cost. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Jan. 31 Raw Materials Inventory Accounts Payable (To record purchase of raw on account) Debit 5.200 Credit 5.200

Q: Yuduryhej rjj

A: feel free to ask me any question within my capacity and I'm willing to help.

Q: How is ARR calculated?

A: ARR: Accounting Rate of Return (ARR) is the rate of return earned on the investment made in a…

Q: Bnmm

A: Accounting system refers to the set of the processes of accounting which is integrated with the…

Q: how does it became an over applied OH? how will you know that it is under or over applied OH?

A: Lets understand the basics. When applied overhead is more than actual overhead then it is known as…

Q: What are ADRs?

A: Answer: An American depositary receipt (ADR) is a negotiable asset that denotes a non-US company…

Q: What is Gordon model?

A: Intrinsic value of a stock is based on the internal information of an organization. That is, market…

Q: What is Glass-Steagall Act?

A: Glass-Steagall Act splits up the investment and commercial banking segments of an investment bank.

Q: 1. How much has Down Home Foods included for intangibles in its offer of $6,600,000? 2. Assuming…

A: Goodwill-Goodwill is an intangible asset (an asset that’s non-physical but offers long-term value)…

Q: Read and interpret anincome statement.

A: It shows the income generated by the company.

Q: Examples of  CIRO and PIRO

A: Example of CIRO: A note book valued at $5 CAD is being transported through courier would be exempt…

Q: Definition of Marco

A: Macroeconomics is the study of how the economy behaves in broad outline. It is largely concerned…

Q: A figured out

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

Q: What is BATNA?

A:

Q: anuty What general internal control v

A: Given case is: All-Around Sound Co. discovered a fraud whereby one of its front office…

Q: What is Miller model?

A: It represents the impact of individual taxes or personal taxes into the valuation of a levered firm,…

Q: Why was EDI devised?

A: EDI: EDI or Electronic data interchange refers to as a system designed to share encrypted…

Q: How do I add an excersise to my qbw?

A: Exercise can add to QBW by open up the exercise that we wish to add to our workout by going to…

Q: Identify the gragh?

A: Part a: Total direct material cost increases or decreases in direct proportion to change in activity…

Q: lanagemenl A ler

A: The right answer is option a. cost centre

Q: Define Volcker rule

A: Volcker Rule is a regulation that implies restrictions on the banks to involve in the stock market…

Q: What is CAPM? How about APT?

A: CAPM and APT are two common models for pricing used in finance. These are explained below.

Q: What the agi

A: AGI means Adjusted Gross Income. It is the total income on which income tax payable would be…

Q: What is the meaning of incoterms

A: International chamber of commerce is the supervisor of international trading, and try to provide…

Q: Activity F stomer Service

A: 1) S. Inc Activity rate = Total activity cost ÷ Activity Base Customer Service = $29,190 ÷ 210 =…

Q: Mamuțelerăit puiul de om

A: Mowgli, the human cub found by the wolves in 'The Jungle Book', is described as a very small and…

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.