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E12-28 Prepare budgetary and proprietary journal entries to record the following year-end adjustments: 4 E12-28. (Year-end adjusting journal entries) 1. An acerual of $60.000 was
E12-28
Prepare budgetary and proprietary journal entries to record the following year-end adjustments: 4 E12-28. (Year-end adjusting journal entries) 1. An acerual of $60.000 was made for salaries eamed the last week of September, to be paid in Octo- 2. The agency's liability for unused vacation leave increased by $40,000 as a result of the year's activiber. Budgetary funds were available for this purpose. ties. The budget makes no provision for this expense until vacation leave is actually taken. 3. The agency discovered that a purchase order for $15,000 was inadvertently issued twice for the same thing. Therefore, one of the orders was cancelled. 4. The agency recorded depreciation of $25,000 on its equipment Step by Step Solution
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