Portions of the wages expense account of a business are shown below. a. Indicate the nature of
Question:
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.
Transcribed Image Text:
Account Wages Expense Account No. 53 Balance Post. Ref. Date Item 2011 Dec. 26 3 125 126 127 32,000 19,200 1,600,000 1,619200 1,619,200 2012 Jan. 1 128 129 19,200 19,200 32,000 12,800
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
a 1 Payment last payday in year 2 Adjusting accrual of wages at end of year 3 Closin...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Portions of the wages expense account of a business are the following. a. Indicate the nature of the entry (payment, adjusting, and closing, reversing) from which each numbered posting was made. b....
-
Portions of the wages expense account of a business are shown at the top of the following page. a. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which each numbered...
-
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....
-
The Hartley Hotel Corporation is planning a major expansion. Hartley is financed 100 percent with equity and intends to maintain this capital structure after the expansion. Hartleys beta is 0.9. The...
-
On March 10, 2012, Global Solutions, Inc., purchased 5,000 shares of Superior Technologies stock for $50 per share. The following information pertains to the fair value of Superior Technologies...
-
A square-based pyramid is shown below. a. Draw a side elevation from the direction of the arrow. b. Draw a plan view.
-
The ratio of stroke to crank radius of an I.C. engine is (a) \(\frac{1}{2}\) (b) 1 (c) 2 (d) 4
-
In a classic study, Milgram et al. lost stamped envelopes with fictitious addresses (Medical Research Association, Personal Address, Friends of Communist Party, and Friends of Nazi Party).* One...
-
Explain step by step below process for the lifting of a block from the sea bottom CoursHeroTranscribedText N P = (z+H) (a) p=yz (b) Z1 Z+H P = R Figure 2.3 Two positions of submergence P = R = W A SA...
-
Elmer's utility function is u(x, y) = min{x, y). a. If Elmer consumes 4 units of x and 3 units of y, his utility is 4. b. If Elmer consumes 4 units of x and 2 units of y, his utility is 4. c. If...
-
On the basis of the following data, (a) journalize the adjusting entries at June 30, the end of the current fiscal year, and (b) journalize the reversing entries on July 1, the first day of the...
-
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....
-
Explain why asset impairments are difficult to identify and audit. How might a client or auditor use a valuation specialist in determining the fair value of property and equipment?
-
1. What is an abstract class? 2. What is an abstract method? 3. What is an interface? 4. What is the difference between an interface and an abstract class? 5. When should you use an interface vs. an...
-
Compute the total and annual returns on the described investment. Six years after buying 50 shares of XYZ stock for $60 per share, you sell the stock for $4600.How much is the total return is % Use...
-
Bob wants to set up a monthly deposit account to save for his retirement in 31 years. In total, he wants to collect $1131222 when he gets retired. How much he must save monthly to reach his goal,...
-
Describe and compare general controls and application controls. (b) Briefly describe and compare input control, processing control, and output control.
-
Consider the sun and its largest planet Jupiter. On the line joining them, how far from the center of the sun is their center mass? Is it within or outside the sun? (Jupiter-sun distance is 778 106...
-
What, in your own words, does business reporting entail?
-
Draw two scatterplots, one for which r = 1 and a second for which r = 21.
-
a = 0 or b = 0 a 0 In Problems 3748, form a valid conclusion, using all the premises given for each argument. Give reasons.
-
Elmbrook Corporation reported net income of $58,000. Depreciation expense for the year was $132,000. The company calculates depreciation expense using the straightline method, with a useful life of...
-
Buckeye Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2012, at a cost of $100,000. Over its 4-year useful life, the bus is expected to be...
-
Basic information relating to a new machine purchased by Deloise Company is presented in E9-5. Instructions Using the facts presented in E9-5, compute depreciation using the following methods in the...
-
The partners mehak and simran share in the profits and losses equally and their capital accounts have credit balance s of 1 5 0 0 0 and 2 5 0 0 0 respectively. The account balances for Mehak and...
-
LNS Corporation reports book profit of $ 2 , 0 0 0 , 0 0 0 . The $ 2 , 0 0 0 , 0 0 0 included $ 1 5 , 0 0 0 of tax exempt interest income, a capital loss of $ 2 , 0 0 0 , depreciation expense of $ 6...
-
Maggie Vitteta, single, works 3 8 hours per week at $ 1 9 . 0 0 an hour. How much is taken out for federal income tax?
Study smarter with the SolutionInn App