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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

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
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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