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Transaction Analysis L03-5
Dixon Company is a manufacturer that completed numerous transactions the month, some of which are shown below.
a. Raw materials purchased on account, S 100.000.
b. Raw materials used in $78,000 direct materials, and $16,000 indirect materials.
c. Sales commissions paid in cash, $45,000.
d.
e. Sales for the month. $4S0.000 (70% cash sales and the remainder were sales on account).
f. Factory utilities paid in cash. $12, 000.
g. Applied $138,000 of manufacturing
h. Various
i. Cash receipts from customers who had previously purchased on credit. $115,000.
j.Various completed jobs costing a total of $220.000 were sold to customers.
k. Cash paid to raw material suppliers, $90,000.
Required:
The table shown below includes only one account from Dixon Company’s balance sheet-Retained Earnings. For each of the above transactions, select "No" if it would not affect Retained Earnings. Conversely if the transaction would affect Retained Earnings, then record the amount of the increase Or (decrease) to this account under the "Yes” column.
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Introduction To Managerial Accounting
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