Question

ACC 211-100 Chelsea Singleton & Homework: Chapter 4 homework Save 9 of 9 (0 complete) HW Score: 48%, 48 of 100 pts Score: 0 of 5 pts T14-7 (similar to) Assigned Media Question Help Autum Landscape Services accrued $3,600 of Salaries Expense at December 31. Autum paid the next payroll at January 10 of $6,000. This payment included the accrued amount at December 31, plus $2,400 for the first few days of January. 23A. Record the adjusting journal entry to accrue Salaries Expense. 24A. Record the reversing entry. 25A. Journalize the cash payment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) 23A. Record the adjusting journal entry to accrue Salaries Expense. Date Accounts and Explanation Debit Credit Dec. 31

Answer 1

Answer

Salary Expense Accrued Entry on Dec 31 will be

Salary Expense Account Dr   3600

      To Accrued Salary / Salary Payable 3600

Being accrued salary for the month of Dec Recorded.

Salary is an Expense so it will be debited and Accrued Salary / Salary Payable is a liability so it is credited.

Salary expense will be seen in Profit & Loss Account whereas Accrued Salary / Salary Payable will be seen as current liability in the balance sheet.