The following adjusting entry for accrued wages was recorded on December 31:Dec. 31              Wages Expense                 5,500                          Wages Payable                  5,500a. Journalize the reversing entry that would be made on January 1 of the next period.b. Assume that the first paid period of the following year ends on January 6 and that wages of $61,375 were paid. Journalize the entry to record the payment of the January 6 wages.c. Journalize the entry to record the payment of the January 6 wages assuming that a reversing entry was not made on January 1.d. What is wages expense for the period January 1–6?

Adjusting, Closing, and Reversing Entries Prepare adjusting, closing, and payroll entries for wages using two methods. Wages paid during 20-1 are $24,080. Wages earned but not paid (accrued) as of December 31, 20-1, are $240. On January 3, 20-2, payroll of $920 is paid, which includes the $240 of wages earned but not paid in December. 1.  Prepare the entries without making a reversing entry.

The rent quartely on 1 January ,1 april,1 july and 1 October. the annual rent has been 24000 for some years but it was increased to 30000 from 1 july 20x5. what amount for rent should appear in the company's financial statement for the year ended 31 January 20x6

On July 1, Orcas Lab issued a $200,000, 7%, 8-month note. Interest is payable at maturity. What is the amount of interest expense that should be recorded in a year-end adjusting entry if the fiscal year-end is (a) December 31? (b) September 30?

The balance in the prepaid rent account before adjustment at the end of the year is $15,764, which represents 9 months' rent paid on December 1. The adjusting entry required on December 31 is Oa. debit Rent Expense, $1,752; credit Prepaid Rent, $1,752 Ob. debit Prepaid Rent, $14,012; credit Rent Expense, $1,752 Oc. debit Rent Expense, $14,012; credit Prepaid Rent, $1,752 Od. debit Prepaid Rent, $1,752; credit Rent Expense, $1,752

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Following are transactions of Danica Company. Dec. 13 Accepted a $18,000, 45-day, 10% note in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note.

On June 1, ACME Incorporated borrows $75,000 on a six-month, 4% note. Interest and principal are to be paid at maturity. Adjusting entries are prepared annually on the June 30 year end. Required: 1. Prepare the journal entry on issuance date. 2. Prepare the year end adjusting journal entry. 3. Prepare the journal entry at maturity date. BIU A Paragraph GENERAL JOURNAL Hº OREDIT

Annual Leave provision balance is to be $11,000 at 30/6/2022. The opening balance was $5,000 at 1/7/2021 and the payments to employees during the financial year ended 30/6/2022 were $4,500. Does this need to be reversed on a balance day adjustment GJ. If so how would Ireverse it

Accrued Vacation Pay A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year’s vacation pay is $77,400. Journalize the adjusting entry required on January 31, the end of the first month of the current year, to record the accrued vacation pay. If an amount box does not require an entry, leave it blank.     fill in the blank db942400303a02e_2 fill in the blank db942400303a02e_3     fill in the blank db942400303a02e_5 fill in the blank db942400303a02e_6 b.  How is the vacation pay reported on the company's balance sheet?       When is this amount removed from the company's balance sheet?