Question

At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payable of Su anu Expense of $29,000. Employees have been paid for work done up to December 27, but the $1.200 they have eamed for December 28-31 has not yet been paid or recorded. Required: 1. Prepare the adjusting journal entry on December 31, 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance. Salaries and Wages Payable Salaries and Wages Expense Beg Bal 0 0 Beg Bal 29.000 TAJE 1,200 End Bol 1,200 { red 1

Answer 1

Solution: Part a: Date Dec 31. Account title Debit Credit salaries and wages expense 1200 salaries and wages payable 1200 Part b: salaries and wages payable Beg. Bal 1200 AJE End bal 1200 salaries and wages expense Beg bal 29000 AJE 1200 End bal 30200