Question - Hopkins and Bruder CPAs incurred the following costs in performing audits during September 2008. The firm uses a work in process inventory account for audit engagement costs and records overhead in fixed and variable overhead accounts Prepare journal entries for each of the following transactions.
a. Used $1,000 of previously purchased supplies on audit engagements
b. Paid $2,000 of partner travel expenses to an accounting converence
c. Recorded $1,800,000 of depreciation on the Hopkins and Bruder Building, 10% of the space is used to house audit personnel
d. Paid insurance on the downtown building