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Chapter 4: 7TI (page 208)

Winters Landscape Services accrued \(4,000 of Salaries Expense at December 31. Winters paid the next payroll at January 10 of

\)6,000. This payment included the accrued amount at December 31, plus $2,000 for the first few days of January.

23A. Record the adjusting entry to accrue Salaries Expense

Short Answer

Expert verified

Adjusting entry is as follows:

Date

Accounts and Explanation

Debit

Credit

Dec. 31

Salaries Expense

$4,000

Salaries Payable

$4,000

To accrue salaries expense

Step by step solution

01

Explanation on Adjusting Entries

Adjusting entries are the year end entries which records the accrued revenues and expenses of the business.

02

Explanation on Entry

Accrued salary expense will be recorded by debiting salary expense and crediting salaries payable by $4,000, respectively

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Most popular questions from this chapter

For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.

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Lucas Architects recorded the following adjusting entries as of December 31: a. Service Revenue accrued, \(2,600. b. Unearned Revenue that has been earned, \)1,300. c. Office Supplies on hand, \(530. The balance of the Office Supplies account was \)880. d. Salaries owed to employees, \(600. e. One month of Prepaid Rent has expired, \)3,100. f. Depreciation on equipment, $1,075. Journalize any necessary reversing entries for Lucas Architects.

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The unadjusted trial balance and adjustment data of Myla’s Motors at December 31, 2018, follow: Adjustment data at December 31, 2018: a. Depreciation on equipment, \(1,700. b. Accrued Wages Expense, \)1,300. c. Office Supplies on hand, \(400. d. Prepaid Insurance expired during December, \)250. Learning Objective 7 Appendix 4A Account Title Office Supplies Cash Debit Credit Accounts Receivable Prepaid Insurance Equiment Accumulated Depreciation—Equipment Accounts Payable Wages Payable Unearned Revenue Dividends Common Stock Service Revenue Depreciation Expense—Equipment Wages Expense Insurance Expense Utilities Expense Supplies Expense Total Balance \( 4,500 \) 90,900 5,700 4,300 19,300 17,200 26,100 1,000 1,500 \( 35,000 13,700 50,500 1,200 1,800 MYLA’S MOTORS Unadjusted Trial Balance December 31, 2018 \) 90, e. Unearned Revenue earned during December, \(4,200. f. Accrued Service Revenue, \)1,000. 2019 transactions: a. On January 4, Myla’s Motors paid wages of \(1,900. Of this, \)1,300 related to the accrued wages recorded on December 31. b. On January 10, Myla’s Motors received \(1,700 for Service Revenue. Of this, \)1,000 related to the accrued Service Revenue recorded on December 31. Requirements 1. Journalize adjusting entries. 2. Journalize reversing entries for the appropriate adjusting entries. 3. Refer to the 2019 data. Journalize the cash payment and the cash receipt that occurred in 2019.
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