Reference: 03-09
the Following Journal Entries Without Dollar Data Were

question 14

Multiple Choice

Reference: 03-09
The following journal entries without dollar data were taken from the accounting records of Case Company. Case company has a job-order costing system and applies overhead to jobs using a predetermined overhead rate. $$\begin{array} { | c | l | l | l | } \hline 1 . & \text { Work in Process } & \text { XXX } & \\\hline & \text { Manufacturing Overhead } & \text { XXX } & \\\hline & \text { Wages Payable } & & \text { XXX } \\\hline & & & \\\hline 2 . & \text { Salary Expense } & \text { XXX } & \\\hline & \text { Wages Payable } & & \text { XXX } \\\hline & & & \\\hline 3 . & \text { Manufacturing Overhead } & \text { XXX } & \\\hline & \text { Accumulated Depreciation } & & \text { XXX } \\\hline & & & \\\hline 4 . & \text { Work in Process } & \text { XXX } & \\\hline & \text { Raw Materials } & & \text { XXX } \\\hline & & & \\\hline 5 . & \text { Work in Process } & \text { XXX } & \\\hline & \text { Manufacturing Overhead } & & \text { XXX } \\\hline & & & \\\hline 6 . & \text { Manufacturing Overhead } & \text { XXX } & \\\hline & \text { Raw Materials } & & \text { XXX } \\\hline & & & \\\hline \text { 7. } & \text { Finished Goods } & \text { XXX } & \\\hline & \text { Work in Process } & & \text { XXX } \\\hline & & & \\\hline 8 . & \text { Raw Materials } & \text { XXX } & \\\hline & \text { Accounts Payable } & & \text { XXX } \\\hline\end{array}$$
-The entry to record the purchase of raw materials is:

• A)8.
• B)4.
• C)6.
• D)1.

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Definitions:

Withdrawals

Money or assets taken out of a business by its owners for personal use.

Worksheet Income Statement

A simplified version of an income statement prepared within an accounting worksheet to calculate net income or loss.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance, reflecting its nature in accounting.

Financial Statement

Reports that provide information about a company's financial condition, performance, and cash flows, including balance sheets, income statements, and more.