Portions of the wages expense account of a business follow: a. Indicate the nature of the entry

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Portions of the wages expense account of a business follow:

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 was made. Close revenues and expenses to D. Bower, Capital.

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Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

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

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Question Posted: May 08, 2017 11:28 AM

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Portions of the wages expense account of a business follow: a. Indicate the nature of the entry

Question:

Account Wages Expense Account No. 53 Balance Post Ref Date Item 2018 Dec. 26(1) 31 (2) 31(3) 125 15,400 126 127 800,000 809,250 9,250 809,20_ 2019 Jan. (4) 2(5) 128 9,250 9,250 12914,800 5,550

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

Financial And Managerial Accounting

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