A movie production studio incurred the following costs related to its current movie: A. Purchased office supplies
Question:
A movie production studio incurred the following costs related to its current movie:
A. Purchased office supplies on account: $33,000
B. Issued direct supplies: $22,512
C. Issued indirect supplies: $7,535
D. Time tickets showing direct labor: $32,503,230
E. Time tickets showing indirect labor: $574,326
F. Utilities expense on account: $957,323
G. Overhead applied: 10% of direct labor cost
Create journal entries for the listed transactions.
Step by Step Answer:
Here are the journal entries for the listed transactions Date Account Title and Explanation Debit Credit Transaction A Office Supplies Inventory 33000 ...View the full answer
Principles Of Accounting Volume 2 Managerial Accounting
ISBN: 9780357364802
1st Edition
Authors: OpenStax
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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