The following adjusting entry for accrued wages was recorded on December 31:

PAGE 1

JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1	Dec. 31	Wages Expense	51	5,500.00
2		Wages Payable	22		5,500.00

a.	Journalize the reversing entry that would be made on January 1 of the next period.*
b.	Assume that the first paid period of the following year ends on January 6 and that wages of $61,375 were paid. Journalize the entry to record the payment of the January 6 wages.*
c.	Journalize the entry to record the payment of the January 6 wages assuming that a reversing entry was not made on January 1.*
d.	What is wages expense for the period January 16?
	*Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTS

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Supplies
14	Prepaid Insurance
15	Land
17	Equipment
18	Accumulated Depreciation-Equipment

	LIABILITIES
21	Accounts Payable
22	Wages Payable

	EQUITY
31	Common Stock
32	Retained Earnings
33	Dividends
34	Income Summary

	REVENUE
41	Fees Earned

	EXPENSES
51	Wages Expense
52	Rent Expense
53	Insurance Expense
54	Utilities Expense
55	Supplies Expense
56	Depreciation Expense-Equipment
57	Miscellaneous Expense

a. Journalize the reversing entry that would be made on January 1 of the next period. 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 1 2 b. Assume that the first paid period of the following year ends on January and that wages of $61, 375 were paid. Journalize the entry to record the payment of the January 6 wages. 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 1 2 C. Journalize the entry to record the payment of the January 6 wages assuming that a reversing entry was not made on January 1. 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 1 2 3