Question
You have been assigned to examine the financial statements of Bridgewater, Inc. for the year ended December 31, 2018. You discover the following situations in
You have been assigned to examine the financial statements of Bridgewater, Inc. for the year ended December 31, 2018. You discover the following situations in February 2019.
Bridgewater, Inc. has not accrued salaries payable at the end of each of the last 2 years, as follows.
December 2016 $6,000
December 2017 $0
December 2018 $4,100
a. Assume the trial balance has been prepared but the books HAVE NOT been closed for 2018. Assuming all amounts are material, prepare journal entries showing the adjustments that are required. (Ignore income tax considerations).
b. Assume the trial balance has been prepared but the books HAVE been closed for 2018. Assuming all amounts are material, prepare journal entries showing the adjustments that are required. (Ignore income tax considerations).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Chief Value Officer Accountants Can Save The Planet
Authors: Mervyn King, Jill Atkins
1st Edition
1783532939, 978-1783532933
