Portions of the wages expense account of a business are the following. a. Indicate the nature of

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Portions of the wages expense account of a business are the following.

Portions of the wages expense account of a business are 129068

a. Indicate the nature of the entry (payment, adjusting, and closing, reversing) from which each numbered posting was made.
b. Journalize the complete entry from which each numbered posting wasmade.

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Accounting

ISBN: 978-0324401844

22nd Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Jul 17, 2012 06:36 AM

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Portions of the wages expense account of a business are the following. a. Indicate the nature of

Question:

ACCOUNT Wages Expense ACCOUNT NO. 53 Balance Post. Ref Dr. Cr. Dr. Cr. 2007 Dec. 26 31 31 49 62,500 50 51 1,747,800 1,760,300 12,500 1,760,300 2008 Jan. 1 52 53 12,500 12,500 60,000 47,500

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a 1 Payment last payday in year 2 Adjusting accrual of wages at end of year 3 Closin...View the full answer

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