Corporate Financial Accounting
14th Edition
ISBN: 9781305653535
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 4, Problem 4.31EX
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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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.
ll Register, Employee Earnings Record, a...
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Alanis Morgan owns White Mountain Assessments in Laconia, New Hampshire. The standard workweek is 40 hours. Use
the wage bracket method in the federal tax table from Appendix C. No employee has exceeded the Social Security tax
wage base. All employees submitted a 2021 Form W-4, and no box was checked in Step 2. (Round your intermediate
calculations and final answers to 2 decimal places.)
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Using the employee payroll entry from Problem 7-3A, complete the General Journal entry for the issuance of the pay for the
September 10 payroll end date. The date of the checks is September 15, 2021. (If no entry is required for a transaction/event, select
"No journal entry required" in the first account field.)
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SIS AND DESIGN OF-2020/2019-3-3
ACCOUNTING INFORMATION SYSTE
Summer Semster
ANALYSIS AND DESIGN OF ACCOUNTING INFORMATION SYSTEMS(2)-1-2020
الامتحان النصفي
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Chapter 4 Solutions
Corporate Financial Accounting
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 - What is the natural business year?Ch. 4 - Recent fiscal years for several well-known...
Ch. 4 - Flow of accounts into financial statements The...Ch. 4 - Retained earnings statement Blake Knudson owns and...Ch. 4 - Classified balance sheet The following accounts...Ch. 4 - Prob. 4.4BECh. 4 - Accounting cycle From the following list of steps...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 had the...Ch. 4 - Retained earnings statement Climate Control...Ch. 4 - Retained earnings statement; net loss Selected...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 - Prob. 4.13EXCh. 4 - Identifying accounts to be closed From the list...Ch. 4 - Closing entries Prior to its closing, Income...Ch. 4 - Closing entries with net income After all revenue...Ch. 4 - Closing entries with net loss Rainbow 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 - Prob. 4.22EXCh. 4 - Appendix 1 Completing an end-of-period spreadsheet...Ch. 4 - Prob. 4.24EXCh. 4 - Prob. 4.25EXCh. 4 - Prob. 4.26EXCh. 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 Lamp...Ch. 4 - Financial statements and closing entries Foxy...Ch. 4 - T accounts, adjusting entries, financial...Ch. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Complete accounting cycle For the past several...Ch. 4 - Financial statements and closing entries Last...Ch. 4 - Financial statements and closing entries The...Ch. 4 - Prob. 4.3BPRCh. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Complete accounting cycle For the past several...Ch. 4 - The unadjusted trial balance of PS Music as of...Ch. 4 - Kelly Pitney began her consulting business, Kelly...Ch. 4 - Continuing Company Analysis- Amazon: Working...Ch. 4 - Under Armour: Current ratio The following year-end...Ch. 4 - Prob. 4.3ADMCh. 4 - Google and Microsoft: Current ratio Google, Inc....Ch. 4 - Prob. 4.1TIFCh. 4 - Communication Your friend, Daniel Nat, recently...
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