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I need help on the May 23rd transaction Act# Credit Debit 45,000 6,200 en this goal 26,150 Accounts Salaries Expense Payroll Tax Expense Retained Earnings
I need help on the May 23rd transaction
Act# Credit Debit 45,000 6,200 en this goal 26,150 Accounts Salaries Expense Payroll Tax Expense Retained Earnings Equipment Accounts Receivable Insurance Expense Utilities Expense Merchandise Inventory Accounts Payable Common Stock Cash Cost of Goods Sold Sales Accumulated Depreciation-Eq 46,000 8,000 1,600 800 12,000 7,400 30,000 16,000 38,950 95,000 16000 174,550 Total 174,550 on the May 23rd During an interal audit, realized that the depreciation expense for last year was understated by $5,000. Last year Income tax rate was 30%. May 30 Mr. Brown, the contractor hired by the company, submitted a $108,550 bill with the following details for reimbursement. The payments and collections pertain to the construction of an office building for the company. Company reimbursed Mr. Brown. Make the necessary composite journal entry. in this goal May 23 During an intemal audit realized that the depreciation expense for last year was understated by $5,000. Last year Income tax rate was 30% May 30th Mr. Brown, the contractor hired by the company, submitted a $108,550 bill with the following details for reimbursement. The payments and collections pertain to the construction of an office building for the company. Company reimbursed Mr. Brown. Make the necessary composite journal entry Act# Credit Debit 45,000 6,200 en this goal 26,150 Accounts Salaries Expense Payroll Tax Expense Retained Earnings Equipment Accounts Receivable Insurance Expense Utilities Expense Merchandise Inventory Accounts Payable Common Stock Cash Cost of Goods Sold Sales Accumulated Depreciation-Eq 46,000 8,000 1,600 800 12,000 7,400 30,000 16,000 38,950 95,000 16000 174,550 Total 174,550 on the May 23rd During an interal audit, realized that the depreciation expense for last year was understated by $5,000. Last year Income tax rate was 30%. May 30 Mr. Brown, the contractor hired by the company, submitted a $108,550 bill with the following details for reimbursement. The payments and collections pertain to the construction of an office building for the company. Company reimbursed Mr. Brown. Make the necessary composite journal entry. in this goal May 23 During an intemal audit realized that the depreciation expense for last year was understated by $5,000. Last year Income tax rate was 30% May 30th Mr. Brown, the contractor hired by the company, submitted a $108,550 bill with the following details for reimbursement. The payments and collections pertain to the construction of an office building for the company. Company reimbursed Mr. Brown. Make the necessary composite journal entry Step by Step Solution
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