The Lewiston Company fails to accrue $100 for one day's wage expense at 12/31/22. The 1/1/23...
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The Lewiston Company fails to accrue $100 for one day's wage expense at 12/31/22. The 1/1/23 reversing entry is not made. These wages plus wages of two days in the new year are paid on 1/2/23. Total cash paid is $300. The following journal entry is made on 1/2/23: Wage Expense Wage Payable Cash $100 $200 $300 Indicate the errors for 12/31/22 Retained Earnings and 2023 Wage Expense, respectively: The Lewiston Company fails to accrue $100 for one day's wage expense at 12/31/22. The 1/1/23 reversing entry is not made. These wages plus wages of two days in the new year are paid on 1/2/23. Total cash paid is $300. The following journal entry is made on 1/2/23: Wage Expense Wage Payable Cash $100 $200 $300 Indicate the errors for 12/31/22 Retained Earnings and 2023 Wage Expense, respectively:
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The errors for 123122 Retained Earnings and 2023 Wage Expense are as follows 1 123122 Retained ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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