Portions of the salaries expense account of a business are shown below. a. Indicate the nature of
Question:
a. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which each numbered posting was made.
b. Journalize the complete entry from which each numbered posting wasmade.
Transcribed Image Text:
Account Salaries Expense Account No. 53 Balance Post. Ref. Date 2011 Dec. 27 Item Dr 18,500 7,400 897,800 905,200 3 2 905,200 2012 Jan. 1 7,400 7,400 18,500 11,100
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 92% (13 reviews)
a 1 Payment last payday in year 2 Adjusting accrual of wages at end of year 3 Closing 4 ...View the full answer
Answered By
Salmon ouma
I am a graduate of Maseno University, I graduated with a second class honors upper division in Business administration. I have assisted many students with their academic work during my years of tutoring. That has helped me build my experience as an academic writer. I am happy to tell you that many students have benefited from my work as a writer since my work is perfect, precise, and always submitted in due time. I am able to work under very minimal or no supervision at all and be able to beat deadlines.
I have high knowledge of essay writing skills. I am also well conversant with formatting styles such as Harvard, APA, MLA, and Chicago. All that combined with my knowledge in methods of data analysis such as regression analysis, hypothesis analysis, inductive approach, and deductive approach have enabled me to assist several college and university students across the world with their academic work such as essays, thesis writing, term paper, research project, and dissertation. I have managed to help students get their work done in good time due to my dedication to writing.
5.00+
4+ Reviews
16+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Portions of the wages expense account of a business are shown below. a. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which each numbered posting was made. b....
-
Portions of the wages expense account of a business are the following. a. Indicate the nature of the entry (payment, adjusting, and closing, reversing) from which each numbered posting was made. b....
-
Portions of the salaries expense account of a business follow: a. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which each numbered posting was made. b. Journalize...
-
The Fisher Apparel Company balance sheet for the year ended 2006 is as follows: a. What is Fisher's investment in current assets? b. Determine Fisher's working capital investment. c. Determine...
-
On June 30, 2012, Metro Media, Inc., purchased 10,000 shares of Mitek stock for $20 per share. The following information pertains to the fair value of Mitek stock: Per Share 12/31/2012...
-
1.12 Andreas Delon's Compensation. Andreas Delon is a French citizen who has been offered the position of CEO of LakePharma, a large French pharmaceuticals firm. LakePharma produces high-quality...
-
9. How can a supervisor overcome resistance to change?
-
Exhibit 9.14 presents the income statement and balance sheet for PartsCo, a $900 million supplier of machinery parts. Next year, the company is expected to grow revenues by 15 percent to $1,035...
-
subject is parling space(how to manage, amount and more..) read below Request for Proposals: Scoping for an inclusive LRT stop on Carleton Campus 1. Introduction Ottawa's Confederation light rail...
-
Beverly Plastics produces a part used in precision machining. The part is produced in two departments: Mixing and Refining. The raw material is introduced into the process in the Mixing Department....
-
On the basis of the following data, (a) journalize the adjusting entries at June 30, the end of the current fiscal year, and (b) journalize the reversing entries on July 1, the first day of the...
-
Briefly discuss why global accounting standards are needed in todays business environment.
-
discuss the fundamental attribution error and its impact on perceptions;
-
STAR Co. provides paper to smaller companies whose volumes are not large enough to warrant dealing directly with the paper mill. STAR receives 100-feet-wide paper rolls from the mill and cuts the...
-
2. Define management.3) Describe who managers are and where they work.4) Describe what managers do.5) Describe the factors that are reshaping and redefiningmanagement.6) Explain what the external...
-
E 1 0 . 1 9 ( LO 3 ) ( Depletion Computations - Timber ) Stanislaw Timber Company owns 9 , 0 0 0 acres of timberland purchased in 2 0 1 4 at a cost of $ 1 , 4 0 0 per acre. At the time of purchase,...
-
Question 01 You were hired as an engineer to evaluate some soil characteristics and conditions to which it is subjected. To do this, you obtained the information presented in the stratified soil...
-
1 According to Strudler, the reason lying is worse than misleading is thatl ying damages trust whereas misleading does not damage any trust. According to Strudler, the reason lying is worse than...
-
What is included in GDP: all goods, all services, or both? mk63
-
2.) Find the Laplace transform of f(t) 7e-St cos 2t +9 sinh2 2t. Use Laplace Table. %3D
-
If a b = 0, then a = 0 or b = 0. a b = 0 In Problems 3748, form a valid conclusion, using all the premises given for each argument. Give reasons.
-
Irina Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Debits 1. Cost of real estate...
-
At December 31, 2012, Rivera Corporation reported the following plant assets During 2013, the following selected cash transactions occurred.Apr. 1 Purchased land for $2,200,000.May 1 Sold equipment...
-
Presented here are selected transactions for Snow Company for 2012. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2002. The machine cost $71,000 on that date and had a useful...
-
A corporate bond that you own at the beginning of the year is worth $930. During the year, it pays $56 in interest payments and ends the year valued at $920. What was your dollar return and percent...
-
Anissa makes custom bird houses in her garage and she buys all her supplies from a local lumber yard. Last year she purchased $4500 worth of supplies and produced 2500 bird houses. She sold all 2500...
-
Critically comment on the following methods that have been used to account for goodwill i)Writting -off the cost of goodwill directly to reserves in the year of acquisition ii) Reporting goodwill at...
Study smarter with the SolutionInn App