At december 31 20x8 before adjusting entries were made the

Assignment Help Accounting Basics

Reference no: EM13481813

At December 31, 20X8, before adjusting entries were made, the Salary Expense account of a company showed a balance of $5,167. It is determined that salaries owed employees for the last few days of the year amount to $432. On January 8, 20X9, the first payroll for the year was prepared, and it totaled $875, including the $432 owed from the previous year. (8 pts)

Required:

a. Prepare the adjusting journal entry at December 31, 20X8.

b. Prepare the reversing entry (if one is appropriate) at January 1, 20X9.

c. What is the balance of the Salary Expense account at January 8, 20X9, assuming all postings have been made?

Enter response in the box below.

d. What is the balance of the Salaries Payable account at January 8, 20X9, after all postings are made?

Enter response in the box below

Reference no: EM13481813

Questions Cloud

In 2013 lisa and fred a married couple have taxable income : in 2013 lisa and fred a married couple have taxable income of 545000. if they were to file separate tax returns lisa

Assess the project be sure to state the basis upon which : redbird inc. is considering an addition to its current operations. the figures are below. cost of the new project

What information should management disclose in the : drug benefits and post retirement liabilities delphi companyreduced its other post reitrement benefits by approx 500

In 2013 lisa and fred a married couple have taxable income : in 2013 lisa and fred a married couple have taxable income of 545000. if they were to file separate tax returns lisa

At december 31 20x8 before adjusting entries were made the : at december 31 20x8 before adjusting entries were made the salary expense account of a company showed a balance of

Explain how each amount in the flexible budget was : staticflexibleactualnumber of surgeries120013001300patient revenue240026002535salary expense120013001365non-salary

Company manufactures a product that sells for 175 perunit : company manufactures a product that sells for 1.75 perunit. management recently finished analyzing the results of the

Maturity coupon bid price asked price asked yield 2012 may : enter question here...refer the table below maturity coupon bid price asked price asked yield 2012 may 15 1.375 10105

Following information is provided by national company : following information is provided by national company limited for the year ended june 30 2009. you are required to

User Account

All Pages