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 Expense501PostBalanceDateItemRef.Dr.Cr.Dr.Cr.1 $1 $$4$1/19/2020750.00750.00313,750.004,650.003,000.0031 ADJUSTING JOURNAL ENTRY1 $900.002$1/31/2020 CLOSING ENTRY1$4,650.002/1/20201 $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

On January 31, Adjusting entry for accrued salaries is recorded $900 by debiting the salaries…

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

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

See similar textbooks

Similar questions

dont provide handwritinh solution ...
A customer misses his flight due to the one hour wait in the check-in line. They are asking you to fix the situation.
So I was given an unadjusted trial balance (attached picture) And this is the adjustment I have to make: "The bank account was changed to an interest bearing account in December. The amount of interest earned in December was $54. This amount was reported on the december bank statement which was received early in January and has not been recorded on the books" Can you tell me what accounts I would debit and credit? and how I would solve this step by step if need be.
City Health Limited has installed a new payroll module to its existing accounting system which integrates with the general ledger application. The new payroll application was purchased from the software company that supplied the general ledger application. The new system is more complex than the old system, but its reporting function provides more details. For example, the new application calculates leave, superannuation, payroll tax and work cover expenses, as well as the corresponding accounting accruals. There was very little time available to implement the new system, so the old application ceased operation on 31 December 2019 and the new application went live on 1 January 2020. There was no time to run the two systems in parallel as well as limited staff training and testing of the new application. Required What concerns would you have about the payroll application’s integration with the general ledger application?
am. 81.
don't give answer in image format
Your company just hired a new employee who is unsure about proper accounting procedures. There was a "sales transaction" on Sept. 4 with the terms 3/15, n/60, followed by a "refund" on Sept. 17, and the customer paid on Sept. 21. Which accounts would be creditied on sept 21?
You stopped by the accounts payable department and retrieved a series of recently submitted invoices for various trade expenses related to the auditorium construction project. “One of the things you wanted to accomplish was to understand how the accounting codes worked—what was capitalized, what was expensed, how it was recorded, etc.” So, you grabbed a stack of processed invoices with accounting codes and went to the construction site to meet with the vice president for an hour-long interview. As the two of you walked around the grounds, you asked the vice president if he could explain the accounting codes to you: “He stared at the [top] invoice for approximately 30 seconds and said: ‘That is not my signature on the invoice!’ As he looked through the stack, he found what appeared to be about three or four other forgeries. He was completely baffled.” The initial investigation revealed that all the forgeries were in the painting division, budgeted at approximately $800,000 a year. The…
Please do Not Give Image Format And Fast Answer
On February 13, GTS Co. paid $2,300 to repair the transmission on one of its delivery vans. In addition, GTS paid $36 to install a GPS system in its van. Question Content Area Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank. Date Account Debit Credit February 13 Feedback Area Feedback Question Content Area Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank. Date Account Debit Credit February 13
Mary Smith is the controller for ABC Printing Service. Mary has been putting in a lot of overtime; therefore, she has been allowed hire an assistant. Mary’s assistant is a bright, high school graduate, but he has never taken an accounting class. Mary is trying to decide which accounting activities could be delegated to her assistant. Mary is willing to give the assistant a few simple instructions on how to complete each task, but she doesn’t have time to teach the assistant to be an accountant. For each task listed, state whether Mary should continue to do the work or delegate the task to her assistant. Please explain each answer. List the account balances from the general ledger in the Trial Balance columns of the end-of-period spreadsheet. Add the Debit and Credit columns of the trial balance. Make the adjusting entries on the spreadsheet. Complete the spreadsheet. Type the formal financial statements using the data from the Income Statement and Balance Sheet columns of the…
3. Zach had surgery, which was his third claim of the year. He had a bill of $5000. Considering the prior visits, what is Zach's portion of this bill, and what is the responsibility of the insurance carrier? 4. How much is Zach responsible for so far this year considering his first three visits?