CORPORATE FINANCIAL ACCOUNTING 15TH ED
15th Edition
ISBN: 9781337894272
Author: Carl S. Warren
Publisher: CENGAGE L
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Chapter 4, Problem 4.30EX
Appendix 2
Entries posted to wages expense account
Portions of the salaries expense account of a business follow:
| Account | Salaries | Expense | Account No. 62 | |||
| Date | Item | Post. Ref. | Dr. | Cr. | Balance | |
| Dr. | Cr. | |||||
| 2017 Dec. 27 | (1) | 29 | 22,000 | 1,200,000 | ||
| 31 | (2) | 30 | 13,200 | 1,213,200 | ||
| 31 | (3) | 31 | 1,213,200 | — | — | |
| 2018 Jan. 1 | (4) | 32 | 13,200 | 13,200 | ||
| 2 | (5) | 33 | 24,000 | 10,800 | ||
A. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which each numbered posting was made.
B. Journalize the complete entry from which each numbered posting was made.
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Students have asked these similar questions
Portions of the salaries expense account of a business follow:
Account Salaries Expense
Account No. 62
Balance
Post.
Ref.
Date
Item
Dr.
Cr.
Dr.
Cr.
2018
Dec.27
(1)
29
22,000
1,200,000
1,213,200
(2)
13,200
31
30
1,213,200
(3)
31
31
2019
Jan. 1
(4)
32
13,200
13,200
(5)
33
10,800
2
24,000
a. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which
each numbered posting was made.
b. Journalize the complete entry from which each numbered posting was made. Close
revenues and expenses to J. McHenry, Capital.
Portions of the wages expense account of a business follow:
Account Wages Expense
Account No. 53
Balance
Post.
Ref.
Cr.
Date
Item
Dr.
Cr.
Dr.
2018
Dec.26
(1)
125
15,400
800,000
(2)
809,250
31
126
9,250
(3)
31
127
809,250
2019
Jan. 1
(4)
128
9,250
9,250
(5)
129
2
14,800
5,550
a. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which
each numbered posting was made.
b. Journalize the complete entry from which each numbered posting was made. Close
revenues and expenses to D. Bower, Capital.
Q3
JE # 1
JE # 2
Here are the month-end balances from Payroll Reports
PTO Liability
Here is from the payroll report.
PTO payout due to termination on 01/15/2020
Prepare a JE to record PTO Payout paid on 01/15/2020
Date
How much was the PTO Expense in Jan 2020?
Prepare a JE to record the PTO Accrual
Date
3,000.00
GL Account Name
GL Account Name
12/31/2019 Balan 01/31/2020 Balance
13,000.00
12,000.00
Debit
Debit
Credit
Credit
Chapter 4 Solutions
CORPORATE FINANCIAL ACCOUNTING 15TH ED
Ch. 4 - Prob. 1DQCh. 4 - Describe the nature of the assets that compose the...Ch. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Why are closing entries required at the end of an...Ch. 4 - Prob. 6DQCh. 4 - What is the purpose of the post-closing trial...Ch. 4 - Prob. 8DQCh. 4 - Which step of the accounting cycle is optional?Ch. 4 - Prob. 10DQ
Ch. 4 - Flow of accounts into financial statements The...Ch. 4 - Statement of stockholders equity Scott Lockhart...Ch. 4 - Classified balance sheet The following accounts...Ch. 4 - Closing entries After the accounts have been...Ch. 4 - Accounting cycle From the following list of steps...Ch. 4 - Working capital and current ratio Current assets...Ch. 4 - Flow of accounts into financial statements The...Ch. 4 - Classifying accounts Balances for each of the...Ch. 4 - Financial statements from the end-of-period...Ch. 4 - Financial statements from the end-of-period...Ch. 4 - Income statement The following account balances...Ch. 4 - Income statement; net loss The following revenue...Ch. 4 - Income statement FedEx Corporation (FDX) had the...Ch. 4 - Statement of stockholders equity Climate Control...Ch. 4 - Statement of stockholders equity; net loss...Ch. 4 - Classifying assets Identify each of the following...Ch. 4 - Balance sheet classification At the balance sheet...Ch. 4 - Balance sheet Dynamic Weight Loss Co. offers...Ch. 4 - Balance sheet The following balance sheet was...Ch. 4 - Identifying accounts to be closed From the list...Ch. 4 - Closing entries with net income Automation...Ch. 4 - Closing entries with net loss Summit Services Co....Ch. 4 - Identifying permanent accounts Which of the...Ch. 4 - Post-closing trial balance An accountant prepared...Ch. 4 - Steps in the accounting cycle Rearrange the...Ch. 4 - Appendix 1 Completing an end-of-period spreadsheet...Ch. 4 - Appendix 1 Adjustment data on an end-of-period...Ch. 4 - Prob. 4.22EXCh. 4 - Appendix 1 Financial statements from an...Ch. 4 - Appendix 1 Adjusting entries from an end-of-period...Ch. 4 - Appendix 1 Closing entries from an end-of-period...Ch. 4 - Appendix 2 Reversing entry The following adjusting...Ch. 4 - Appendix 2 Adjusting and reversing entries On the...Ch. 4 - Appendix 2 Adjusting and reversing entries On the...Ch. 4 - Appendix 2 Entries posted to wages expense account...Ch. 4 - Appendix 2 Entries posted to wages expense account...Ch. 4 - Financial statements and closing entries 8.Net...Ch. 4 - Financial statements and closing entries Foxy...Ch. 4 - accounts, adjusting entries, financial statements,...Ch. 4 - Net Income: 51,150 Ledger accounts, adjusting...Ch. 4 - Net income: 43,475 Complete accounting cycle For...Ch. 4 - Financial statements and closing entries Last...Ch. 4 - Financial statements and closing entries The...Ch. 4 - Income: 27,350 accounts, adjusting entries,...Ch. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Net income: 53,77S Complete accounting cycle For...Ch. 4 - Comprehensive Problem 1 8 Net income. 31,425...Ch. 4 - Working Capital and Current Ratio Analyze and...Ch. 4 - Analyze and compare Zynga, Electronic Arts, and...Ch. 4 - Analyze and compare Foot Locker and The Finish...Ch. 4 - Analyze Under Armour The following year-end data...Ch. 4 - Prob. 4.5MADCh. 4 - Analyze and compare Alphabet (Google) and...Ch. 4 - Prob. 4.1TIFCh. 4 - Prob. 4.3TIFCh. 4 - Financial statements The following is an excerpt...Ch. 4 - Prob. 4.5TIF
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