On April 6, Almerinda Company purchased on account 60,500 units of raw materials

Question

On April 6, Almerinda Company purchased on account 60,500 units of raw materials at $13.00 per unit. On April 21, raw materials were requisitioned for production as follows: 23,400 units for Job 50 at $7.00 per unit and 28,900 units for Job 51 at $13.00 per unit.

Journalize the entry on April 6 to record the purchase and on April 21 to record the requisition from the materials storeroom. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTSAlmerinda CompanyGeneral Ledger

Journalize the entry on April 6 to record the purchase and on April 21 to record the requisition from the materials storeroom. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

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ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory

Explanation / Answer

Journal Date Description Post Ref Debit Credit 'April 6 Materials 786500 Accounts Payable 786500 (Material purchase on account) 'April 21 Work in Process - Job 50 163800 Work in Process - Job 51 375700 Materials 539500 (Material issued for Production)

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