The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July:July 3.Charged 175 hours of professional (lawyer) time at a rate of $150 per hour to the Obsidian Co. breech of contract suit to prepare for the trial10.Reimbursed travel costs to employees for depositions related to the Obsidian case, $12,50014.Charged 260 hours of professional time for the Obsidian trial at a rate of $185 per hour18.Received invoice from consultants Wadsley and Harden for $30,000 for expert testimony related to the Obsidian trial27.Applied office overhead at a rate of $62 per professional hour charged to the Obsidian case31.Paid administrative and support salaries of $28,500 for the month31.Used office supplies for the month, $4,00031.Paid professional salaries of $74,350 for the month31.Billed Obsidian $172,500 for successful defense of the casea. Provide the journal entries for each of these transactions. If an amount box does not require an entry, leave it blank. Activity StreamCengageNOWv2 | Online teachin xAnswered: Job Costs At the endA v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=falseWeek 2 - Problem AssignmentеBookJuly 181. PE.19.01B2. PE.19.02BJuly 273. PE.19.03B4. PE.19.04BJuly 31 Admin. sal.5. PE.19.05B6. EX.19.04July 31 Supplies7. EX.19.078. EX.19.16July 31 Prof. sal.July 31 BilledJuly 31 Cost11:46 AMO Type here to searchDELLw1/15/20219....因I II IIII II II II00V Activity StreamCengageNOWv2 | Online teachin xb Answered: Job Costs At the endA v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=falseWeek 2 - Problem AssignmentеBookThe law firm of Fürlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following1. PE.19.01Btransactions occurred during July:July 3. Charged 175 hours of professional (lawyer) time at a rate of $150 per hour to the Obsidian Co. breech of contract suit to prep2. PE.19.02B10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $12,5003. PE.19.03B14. Charged 260 hours of professional time for the Obsidian trial at a rate of $185 per hour18. Received invoice from consultants Wadsley and Harden for $30,000 for expert testimony related to the Obsidian trial4. PE.19.04B27. Applied office overhead at a rate of $62 per professional hour charged to the Obsidian case5. PE.19.05B31. Paid administrative and support salaries of $28,500 for the month31. Used office supplies for the month, $4,0006. EX.19.0431. Paid professional salaries of $74,350 for the month31. Billed Obsidian $172,500 for successful defense of the case7. EX.19.07a. Provide the journal entries for each of these transactions. If an amount box does not require an entry, leave it blank.8. EX.19.16July 3July 10July 1411:45 AMO Type here to searchDELLw1/15/2021...因00

Journal entry is the primary entry that records the transactions initially. It has a debit side and…

Answered: The law firm of Furlan and Benson…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The law firm of Furlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during July:

July 3.	Charged 175 hours of professional (lawyer) time at a rate of $150 per hour to the Obsidian Co. breech of contract suit to prepare for the trial
10.	Reimbursed travel costs to employees for depositions related to the Obsidian case, $12,500
14.	Charged 260 hours of professional time for the Obsidian trial at a rate of $185 per hour
18.	Received invoice from consultants Wadsley and Harden for $30,000 for expert testimony related to the Obsidian trial
27.	Applied office overhead at a rate of $62 per professional hour charged to the Obsidian case
31.	Paid administrative and support salaries of $28,500 for the month
31.	Used office supplies for the month, $4,000
31.	Paid professional salaries of $74,350 for the month
31.	Billed Obsidian $172,500 for successful defense of the case

a. Provide the journal entries for each of these transactions. If an amount box does not require an entry, leave it blank.

Activity Stream
CengageNOWv2 | Online teachin x
Answered: Job Costs At the end
A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false
Week 2 - Problem Assignment
еBook
July 18
1. PE.19.01B
2. PE.19.02B
July 27
3. PE.19.03B
4. PE.19.04B
July 31 Admin. sal.
5. PE.19.05B
6. EX.19.04
July 31 Supplies
7. EX.19.07
8. EX.19.16
July 31 Prof. sal.
July 31 Billed
July 31 Cost
11:46 AM
O Type here to search
DELL
w
1/15/2021
9.
...
因
I II II
II II II II
00
V

Activity Stream
CengageNOWv2 | Online teachin x
b Answered: Job Costs At the end
A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false
Week 2 - Problem Assignment
еBook
The law firm of Fürlan and Benson accumulates costs associated with individual cases, using a job order cost system. The following
1. PE.19.01B
transactions occurred during July:
July 3. Charged 175 hours of professional (lawyer) time at a rate of $150 per hour to the Obsidian Co. breech of contract suit to prep
2. PE.19.02B
10. Reimbursed travel costs to employees for depositions related to the Obsidian case, $12,500
3. PE.19.03B
14. Charged 260 hours of professional time for the Obsidian trial at a rate of $185 per hour
18. Received invoice from consultants Wadsley and Harden for $30,000 for expert testimony related to the Obsidian trial
4. PE.19.04B
27. Applied office overhead at a rate of $62 per professional hour charged to the Obsidian case
5. PE.19.05B
31. Paid administrative and support salaries of $28,500 for the month
31. Used office supplies for the month, $4,000
6. EX.19.04
31. Paid professional salaries of $74,350 for the month
31. Billed Obsidian $172,500 for successful defense of the case
7. EX.19.07
a. Provide the journal entries for each of these transactions. If an amount box does not require an entry, leave it blank.
8. EX.19.16
July 3
July 10
July 14
11:45 AM
O Type here to search
DELL
w
1/15/2021
...
因
00

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