Post Balance Date Item Ref. Dr. Cr. Dr. Cr. 1 $ 1 $ 1 $ 1/19/2020 750.00 2$ 2$ 2$ 4,650.00 750.00 3,000.00 900.00 $ 31 3,750.00 31 ADJUSTING JOURNAL ENTRY 4,650.00 1/31/2020 CLOSING ENTRY 1 2/1/2020 1 $ 5,400.00 Tol

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

I am stuck on this question, i think i just need record the hair stylist being paid in cash as a salries expense. i do not understand the part that says "do not forget the portion of salaries were recorded as an expense at the end of january" can someone please help me.

 

Salaries Expense
501
Post
Balance
Date
Item
Ref.
Dr.
Cr.
Dr.
Cr.
1 $
1 $
$4
$
1/19/2020
750.00
750.00
31
3,750.00
4,650.00
3,000.00
31 ADJUSTING JOURNAL ENTRY
1 $
900.00
2$
1/31/2020 CLOSING ENTRY
1
$
4,650.00
2/1/2020
1 $
5,400.00
Transcribed Image Text:Salaries Expense 501 Post Balance Date Item Ref. Dr. Cr. Dr. Cr. 1 $ 1 $ $4 $ 1/19/2020 750.00 750.00 31 3,750.00 4,650.00 3,000.00 31 ADJUSTING JOURNAL ENTRY 1 $ 900.00 2$ 1/31/2020 CLOSING ENTRY 1 $ 4,650.00 2/1/2020 1 $ 5,400.00
Paid the hair stylist cash of $1,210. *Do not forget that a portion of the hair stylist"
salaries were recorded as an expense at the end of January.
4
Transcribed Image Text:Paid the hair stylist cash of $1,210. *Do not forget that a portion of the hair stylist" salaries were recorded as an expense at the end of January. 4
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Wages and Salaries computation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education