Prepare entries for (a), (b), and (c) listed below using two methods:

1 - prepare the entries without making a reversing entry.

2 - prepare the entries with the use of a reversing entry.

(a) Wages paid during 20X1 are $30,500

(b) Wages earned but not paid (accrued) as of December 31, 20X1, are $1,500

(c) On January 3, 20X2, payroll of $2,500 is paid, which includes the $1,500 of wages earned but not paid in December.

Date		Without Reversing Entry		With Reversing Entry
Adjusting Entry: 12/31/X1		Account Title Amount
		Account Title Amount
Closing Entry: 12/31/X1
Reversing Entry: 1/1/X2 Payment of Payroll: 1/3/X2

Answer rating: 100% (QA)

Without With Reversing Reversing Entry Entry Wages 30500 Wages expense 30500 ... View the full answer