Adjusting entries for accrued salaries Journal Instructions Chart of Accounts 2. X Instructions 3. Garcia Realty Co. pays weekly salaries of $16,400 on Friday for a five-day workweek ending on that day. 5. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Wednesday and (b) on Thursday. Refer to the Chart of Accounts for exact wording of account titles. 6. 7 8 Adjusting entries for accrued salaries 1 Instructions Chart of Accounts Journal 2. Chart of Accounts 3. Garcia Realty Co. 4. General Ledger 5. REVENUE ASSETS 6. 11 Cash 41 Fees Eamed 12 Accounts Receivable 7 EXPENSES 13 Supplies 8M 51 Advertising Expense 14 Prepaid Insurance 52 Insurance Expense 15 Land 53 Rent Expense 16 Equipment 54 Salaries Expense 17 Accumulated Depreciation-Equipment 55 Supplies Expense 56 Utilities Expense LIABILITIES 21 Accounts Payable 57 Depreciation Expense 22 Unearned Fees 59 Miscellaneous Expense 23 Salaries Payable 24 Taxes Payable Chart of Accounts 2. 51 Advertising Expense 14 Prepaid Insurance 52 Insurance Expense 15 Land 3. 53 Rent Expense 16 Equipment 54 Salaries Expense 17 Accumulated Depreciation-Equipment 4. 55 Supplies Expense 5. 56 Utilities Expense LIABILITIES 21 Accounts Payable 57 Depreciation Expense 6. 59 Miscellaneous Expense 22 Unearned Fees 7. 23 Salaries Payable 24 Taxes Payable 8 EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Adjusting entries for accrued salaries 2. Journal Instructions Chart of Accounts 3. Instructions Journal 5. (a) Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Wednesday, March 31. Refer to the Chart of Accounts for exact wording account titles. 7. PAGE 1 8 ACCOUNTING EQUATION JOURNAL DEBIT LIABILITIES DATE DESCRIPTION POST. REF CREDIT ASSETS EQUITY Adjusting Entries 1 2 3 LC c