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Instructions Garcia Realty Co. pays weekly salaries of $19,250 on Friday for a five-day workweek ending on that day. Joumaze the necessary adjusting entry at
Instructions Garcia Realty Co. pays weekly salaries of $19,250 on Friday for a five-day workweek ending on that day. Joumaze 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 acc Chart of Accounts Garcia Realty Co, General Ledger ASSETS REVENUE 41 Fees Earned 13 Supplies 51 Advertising Expense 15 Land 53 Rent Expense 4 Salaries Expense 55 Supplies Expense 5B Utilities Expense LIABILITIES 22 Unearned Fees 9 Miscellaneous Expense 23 Salaries Payable EQUITY 31 Common Stock 32 Rotained Earnings 33 Dividends Journal (a) Jounalize the necessary adjusting entry at the end of the accounting period, assuming thet the period ends on Wednesday, March 31. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY Adjusting Entries (b) Journalize the necessary adjusting entry at the end of the accounting period, assuming thet the period ends on Thursday, Adarch 31. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY Adjusting Entries
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