Obtain all data that is necessary from the worksheet prepared for Healthy Eating Foods Company in Problem
Question:
Obtain all data that is necessary from the worksheet prepared for Healthy Eating Foods Company in Problem 12.5A at the end of Chapter 12. Then follow the instructions to complete this problem.
INSTRUCTIONS
1. Record adjusting entries in the general journal as of December 31, 2019. Use 25 as the first journal page number. Include descriptions for the entries.
2. Record closing entries in the general journal as of December 31, 2019. Include descriptions.
3. Record reversing entries in the general journal as of January 1, 2020. Include descriptions.
Analyze:
Assuming that the firm did not record a reversing entry for salaries payable, what entry is required when salaries of $6,000 are paid on January 3?
Step by Step Answer:
GENERAL JOURNAL PAGE 25 DATE DESCRIPTION POST REF DEBIT CREDIT 1 Adjusting Entries 1 2 2019 Adjustment a 2 3 Dec 31 Income Summary 86 0 0 0 00 3 4 Merchandise Inventory 86 0 0 0 00 4 5 To transfer beg...View the full answer
College Accounting A Contemporary Approach
ISBN: 978-0077639730
4th edition
Authors: David Haddock, John Price, Michael Farina
