What's the correct entry for $100 purchase of supplies on credit? a. Debit Cash: $100 & Credit Supplies: $100
b. Debit Accounts Payable: $100 & Credit Cash: $100
c. Debit Supplies: $100 & Credit Accounts Payable: $100
d. Debit Accounts Payable: $100 & Credit Supplies: $100
e. Debit Accounts Receivable: $100 & Credit Cash: $100

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below

On january 1, vermont corporation had 40,000 shares of $10 par value common stock issued and outstanding. all 40,000 shares has been issued in a prior period at $20.00 per share. on february 1, vermont purchased 3,750 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on march 1. the journal entry to record the purchase of the treasury shares on february 1 would include a credit to treasury stock for $90,000 debit to treasury stock for $90,000 credit to a gain account for $112,500 debit to a loss account for $112,500

Jack manufacturing company had beginning work in process inventory of $8,000. during the period, jack transferred $34,000 of raw materials to work in process. labor costs amounted to $41,000 and overhead amounted to $36,000. if the ending balance in work in process inventory was $12,000, what was the amount transferred to finished goods inventory?