At December 31, 2021. Carla Vista Company made an accrued expense adjusting entry of $1.610 for salaries
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.
Homework Answers
| Carla Vista Company | |||
| Journal entries | |||
| Date | Account | Debit | Credit |
| Adjusting entry | |||
| 31-Dec | Salaries expense | $ 1,610 | |
| Salaries Payable | $ 1,610 | ||
| Closing entry | |||
| 31-Dec | Income Summary/Retained Earnings | $ 1,610 | |
| Salaries expense | $ 1,610 | ||
| Reversing entry | |||
| 1-Jan | Salaries Payable | $ 1,610 | |
| Salaries expense | $ 1,610 | ||
| Payment entry | |||
| 4-Jan | Salaries expense | $ 2,790 | |
| Cash | $ 2,790 | ||
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