Prepare a transaction analysis worksheet

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Reference no: EM13256779

Brazel's Furniture Company recorded the followingtransactions during the month of September.

a.

Purchased $8,000 of raw materials on account

b.

Moved $10,000 of materials into production

c.

Paid various overhead costs of $6,000

d.

Paid rent for the current month of $5,000

e.

Accrued direct labor cost of $6,000 that will be paid in thefollowing month

f.

Earned unearned revenue of $9,000 in the month. FGInventory value was $4,000

g.

Finished the manufacture of furniture in the month valued at$19,000

h.

Paid various period costs in the amount of $7,000

i.

Sold furniture for $30,000. 60% for cash, the remainder oncredit. Mfg cost: $14,000.

j.

Acquired $25,000 of machinery. $5,000 cash, the remainderfinanced by the bank.

Beginning balancesare as follows:

Cash                   $22,000                      A/P                             $ 8,000

A/R                       $ 2,000                      N/P                             $13,000

Dir.Mat.               $ 5,000                      UnearnedRev.            $ 9,000

WIP                      $ 3,000                      CommonStock           $45,000

FG                        $ 5,000                      RetainedEarnings        $40,000

PPE                      $78,000

Total                     $115,000                    Total                           $115,000

Prepare a transaction analysis worksheet below (with accounttotals at the end of the month).

Reference no: EM13256779

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