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

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Portions of the wages 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.

Wages Expense Account No. 53 Account Balance Post. Ref. Item Dr. Date Cr. Dr. Cr. 2009 Dec. 26 31 31 2010 Jan. 1 1,400,0

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Accounting

ISBN: 978-0324662962

23rd Edition

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

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Question Posted: Dec 10, 2011 10:13 AM

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

Question:

Wages Expense Account No. 53 Account Balance Post. Ref. Item Dr. Date Cr. Dr. Cr. 2009 Dec. 26 31 31 2010 Jan. 1 1,400,000 1,416,200 27,000 16,200 (1) (2) (3) 49 50 51 1,416,200 16,200 (4) (5) 52 53 16,200 27,000 10,800

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

Accounting

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