Solution:
The Answer is
General Journal | Debit | Credit |
Salaries Payable | $ 1,600 | |
Salaries Expense | $ 2,200 | |
Cash | 3800 | |
[ To record salary expenses and payable paid] |
Explanation:
1) Below is the adjusting entry which has to be reverse after year end. So, in order to reverse it we have debit salaries payable along with January salary expense.
General Journal | Debit | Credit |
Salaries Expense | $ 1,600 | |
Salaries Payable | $ 1,600 | |
[ To record salary expenses payable] |
2) So, Remaining options are Incorrect.
of the following is would be prepared to record the Anang entry was made on y...
An adjusting entry was made on year-end December 31 to accrue salary expense of $1.200. Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $3,000 payment of salaries in January of the following year?
Help ASAP An adjusting entry was made on year-end December 31 to accrue salary expense of $2,000 Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $4,600 payment of salarles In January of the following year? Multiple Cholce Salarie 4, 600 4,600 ● 600 Salaries Tayable 2,000 2,000
An adjusting entry was made on year-end December 31 to accrue salary expense of $3,200. Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $7,000 payment of salaries in January of the following year? Multiple Choice 0 salaries Expens 7,000 Salaries Expense Cash 7,000 7,000 Salaries Payable Cash 7,000 3,200 Salaries Payable Cash 3,200 3,200 Salaries Expense Salaries Payable 3,200 7,000 Salaries Expense Cash 7,000 7,000 Salaries Payable Cash 7,000...
Required 1 Journal entry 1 - Record lease by lessee. Journal entry 2 - Record the cash payment January 1, 2021 Journal entry 3 -Record the cash payment December 31, 2021 Journal entry 4 -Record amortization of the right-of-use asset on December 31, 2021 Required 2 Journal entry 1 - Record lease by lessor. Journal entry 2 - Record the cash received (include maintenance fee accrual) Journal entry 3 -Record cash received by lessor On January 1, 2021, NRC Credit...
At December 31, 2021. Carla Vista Company made an accrued expense adjusting entry of $1.610 for salaries. On January 4, 2022, it paid salaries of $2,790: $1610 for December salaries and $1,180 for January salaries.Prepare the December 31 adjusting entry.Prepare the December 31 closing entry for salaries.Prepare the January 1 reversing entry and the January 4 journal entry to record the payment of salaries.
eBook Calculator Print Item Appendix 2: Reversing entry The following adjusting entry for accrued wages was recorded on December 31: Dec. 31Wages Expense 5,500 Wages Payable 5,500 a. Journalize the reversing entry that would be made on January 1 of the next period. Jan. 1 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. Jan....
At December 31, 2021, Pharoah Company made an accrued expense adjusting entry of $1,820 for salaries. On January 4, 2022. It paid salaries of $3,140: $1,820 for December salaries and $1,320 for January salaries. Prepare the January 1 reversing entry and the January 4 journal entry to record the payment of salaries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter...
1. Record the beginning of the lease for Winn. 2.Record the advance payment made at the beginning of the lease by Winn. 3.Record the lease payment for Winn. 4. Record the amortization the right-of-use asset for Winn. 5.Recored depreciation for Winn. 6.Recored the lease payment for Winn. 7. Record the amortization of the right-of-use asset for Winn. 8.Recored deprecation for Winn. 9.Recored the lease payment for Winn. 10.Recored the amortization of the right-of-use asset for Winn. 11. Recored depreciation for...
QueSTION 2 Nat yet answered Marked out of 1 agquest on Record the adjusting entry made on January 31, 2015 for each of the above transactions. Noncash tarned Adjusting Accounts Selected accounts of Ideal Properties, a real estate management firm, are shown belowas of anuary 31 2015, befcre any adjusting entries have been made. Asset Assets Assets LiabilitiesCapitalCapital Expensesincome 1 Prepaid Debits Credits 2. Supplies Prepaid irsurance Supplies irventory Office equipment Unearnedrert revenue alaries expense Rert reverue during anuary ,930...
JOURNAL ENTRY: 1) Record the entry to adjust to fair value on the date of sale. 2) Record the sale of stock on January 2, 2022 for $112 million. Required Information [The following information applies to the questions displayed below.] On January 2, 2021, Sanborn Tobacco Inc. bought 10% of Jackson Industry's capital stock for $91 million. Jackson Industry's net Income for the year ended December 31, 2021, was $121 million. The fair value of the shares held by Sanborn...