Portions of the salaries expense account of a business are shown below. a. Indicate the nature of

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Portions of the salaries expense account of a business are shown below.

a. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which each numbered posting was made.
b. Journalize the complete entry from which each numbered posting wasmade.

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Accounting

ISBN: 978-0324401844

22nd Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Jul 17, 2012 06:36 AM

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Portions of the salaries expense account of a business are shown below. a. Indicate the nature of

Question:

ACCOUNT Salaries Expense ACCOUNT NO. 53 Balance Post. Ref Date Dr. Cr. Dr. Cr. 2007 Dec. 26 31 31 29 30 31 30,000 10,000 1,500,000 1,510,000 1,510,000 2008 Jan. 1 32 10,000 10,000 30,000 20,000

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a 1 Payment last payday in year 2 Adjusting accrual of wages at end of year 3 Closing 4 R...View the full answer

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