Equipment Income Summary Office Supplies Prepaid Rent Rent Expense Retained Earnings Salaries Expense Salaries Payable Service Revenue Utilities Payable Supplies Expense Uneaned Revenue OUtilities Expense 3. Design Services had the following unadjusted balances at December 31, 2018: Salaries Payable $0; and Salaries Expense, $1,200. The following transactions have taken place during the end of 2018 and beginning of 2019 (Click the icon to view the transactions.) Read the requirements Requirements 1 and 2. Journalize the entries assuming Design Services does not use reversing entries. Do not record the reversing entry on Jan. 1. The T-accounts have been opened for you. Enter the Salaries Payable and Salaries Expense unadjusted balances at December 31, 2018. Post the jounal entries to the accounts. Begin by journalizing the entries. (Record debits first, then credits. Select the explanation journal entry table.) on the last line of the Dec. 31: Accrued Salaries Expense at December 31, $6.500. Credit Debit Accounts and Explanation Date 2018 (1) Dec. 31 (2) (3) (4) (5) Dec. 31: Closed the Salaries Expense account. Credit Debit Accounts and Explanation Date 2018 (6) Dec. 31 (7) (8) (9) (10) Jan. 4: Paid salaries of $7,800. This payment included the Salaries Payable amount, plus $1,300 for the first few days of January. Date Accounts and Explanation Debit Credit 2019 (11) Jan. 4 (12) (13) (14) (15) Enter the unadjusted balances, post the entries to the accounts, calculating adjusted balances "Adj. Bar. post-closing balances "Bal.", and balances after the January 4 transaction "Bal. Enter the unadjusted balances ("Unadj. Bal.") of the accounts on the first line of each T-account. For any account with a zero unadjusted balance, enter a "0" on the normal side of the account. Post any adjusting entries ("Adj.") to the accounts using the second line of the T-accounts, and then calculate the adjusted balance (Adj. Bal.") of each account. For any temporary accounts only, post the closing entry ("Clos.") on the same line as the adjusted balance, and then use the following line to show the account's post-closing balance ("Bal."). If an account has a zero balance after closing, select "Bal." and enter a "0" on the normal side of that account. Finally, post the January 4 transaction (Jan. 4") and compute the ending balance ("Bal.") of each account after the January 4 transaction has been posted. Salaries Payable Salaries Expense (16) (20) |(17) (18) (19) (21) (22) (23) (24) (26) (25) (27) (28) (29) (30) (31) (32) (33) (34) (35) (36) (37) Requirements 1 and 3. Jounalize the entries assuming Design Services uses reversing entries. Do not forget to record the reversing entry on Jan. 1. The T-accounts have been opened for you. Enter the Salaries Payable and Salaries Expense unadjusted balances at December 31, 2018. Post the jounal entries to the accounts. Post to the accounts. Compare the balances on January 4, 2019 with Requirement 2 balances on January 4, 2019 Begin by journalizing the entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Dec. 31: Accrued Salaries Expense at December 31, $6,500, aptie Date Accounts and Explanation Debit Credit 2018 Dec. 31 |(38) (39) |(40) (41) (42) Dec. 31: Closed the Salaries Expense account Date Accounts and Explanation Debit Credit 2018 (43) Dec. 31 (44) (45) (46) (47) Jan. 1: Reversed the accrued salaries. (Requirement 3 only) Date Accounts and Explanation Debit Credit 2019 (48) Jan. 1 (49) (50) (51) (52) Jan. 4: Paid salaries of $7,800. This payment included the Salaries Payable amount, plus $1,300 for the first few days of January. Date Accounts and Explanation Credit Debit 2019 (53) Jan. 4 (54) (55) (56) (57) Enter the unadjusted balances, post the entries to the accounts, calculating adjusted balances "Adi Bar post-closing balances "Bal.", and balances after the January 4 transaction "Bal Enter the unadjusted balances ("Unadj. Bal") of the accounts on the first line of each T-account. For any account with a zero unadjusted balance, enter a "0" on the normal side of the account. Post any adjusting entries (Adj.") to the accounts using the second line of the T-accounts, and then calculate the adjusted balance (Adj. Bal.) of each account. For any temporary accounts only, post the closing entry Clos.) on the same line as the adjusted balance, and then use the following line to show the account's post-closing balance (Bal."). If an account has a zero balance after closing, select "Bal" and enter a "0" on the normal side of that account. Finally, post the January 1 and 4 transactions using the dates as a posting reference and compute the ending balance ("Bal.") of each account after the transactions has been posted. Salaries Payable Salaries Expense (58) (60) (64) (59) (61) (62) (63) (65) (66) (67) (71) (68) (69) (70) (72) (73) (74) (75) (76) (77) (78) (79) Compare the balances on January 4, 2019 with Requirement 2 balances on January 4, 2019. After all the journal entries are made, the balances are (80) reversing entries are made. regardless of whether or not 3: More Info 2018 Dec. 31 Accrued Salaries Expense at December 31, $6,500. 31 Closed the Salaries Expense account. 2019 Reversed the accrued salaries. (Requirement 3 only) Jan. 1 4 Paid salaries of $7,800. This payment included the Salaries Payable amount, plus $1,300 for the first few days of January. 4: Requirements 1. The T-accounts have been opened for you. Enter the Salaries Payable and Salaries Expense unadjusted balances at December 31, 2018. 2. Journalize the entries assuming Design Services does not use reversing entries. Do not record the reversing entry on Jan. 1. Post to the accounts. 3. Journalize the entries assuming Design Services uses reversing entries. Do not forget to record the reversing entry on Jan. 1. Post to the accounts. Compare the balances on January 4, 2019 with Requirement 2 balances on January 4, 2019 333383 eainning of 2019: iMore Info 2018 es Dec. 31 Accrued Salaries Expense at December 31, $6,500 31 Closed the Salaries Expense account. er s. 2019 Jan. 1 Reversed the accrued salaries. (Requirement 3 only) 4 Paid salaries of $7,800. This payment included the Salaries Payable amount, plus $1,300 for the first few days of January an Chec Print Done