For Each Transaction,identify Which Account Is Debited and Which Account

question 147

Essay

For each transaction,identify which account is debited and which account is credited.Use proper account titles.
$$\begin{array} { | l | l | l | } \hline { \text { Transaction } } & \text { Debit } & \text { Credit } \\\hline \text { Received cash on account from a } & & \\\text { customer } & & \\\hline \text { Paid cash dividends to } & & \\\text { stockholders } & & \\\hline \text { Purchased office supplies on } & & \\\text { account } & & \\\hline \text { Received cash from customers for } & & \\\text { pervices to be performed next } & & \\\text { month } & & \\\hline \text { Paid employee's salary } & & \\\hline\end{array}$$

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Definitions:

Job-Order Costing System

A cost accounting system that assigns costs to specific production batches or jobs.

Predetermined Overhead Rate

A rate used to allocate overhead costs to products or services, based on a predetermined activity level.

Manufacturing Departments

Sections in a manufacturing plant, each focusing on various parts of the manufacturing process.

Machine-Hours

The total hours that machinery is in operation during a production process.