Question 27 of 35 What is the suggested method for voiding and re-issuing a paycheck? AO Make a journal entry to reverse the original paycheck. Then, issue a new paycheck using the current date. BO Void the original paycheck using the QuickBooks "void" feature. Then, issue a new paycheck using the current date. CO Reverse the original check using the QuickBooks "reversal" feature. Then, issue a new paycheck using the current date. DO Void a new check with the same check number. Then, change the number of the original check to the new check number or print the check.

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter15: Preparing Adjusting Entries And A Trial Balance
Section15.4: Calculating Federal Income Tax
Problem 1WT
icon
Related questions
Question

1.

These two questions are for quickbooks desktop 2022. Please inlcude explaination. Thank you!

 

Question 27 of 35
What is the suggested method for voiding and re-issuing a paycheck?
AO Make a journal entry to reverse the original paycheck. Then, issue a new paycheck using the current date.
BO Void the original paycheck using the QuickBooks "void" feature. Then, issue a new paycheck using the current
date.
CO Reverse the original check using the QuickBooks "reversal" feature. Then, issue a new paycheck using the
current date.
DO Void a new check with the same check number. Then, change the number of the original check to the new
check number or print the check.
Transcribed Image Text:Question 27 of 35 What is the suggested method for voiding and re-issuing a paycheck? AO Make a journal entry to reverse the original paycheck. Then, issue a new paycheck using the current date. BO Void the original paycheck using the QuickBooks "void" feature. Then, issue a new paycheck using the current date. CO Reverse the original check using the QuickBooks "reversal" feature. Then, issue a new paycheck using the current date. DO Void a new check with the same check number. Then, change the number of the original check to the new check number or print the check.
Question 28 of 35
Instead of using the Pay Scheduled Liabilities window, a client paid insurance deducted from paychecks by writing a
regular check and listed the Insurance Liability account as the expense. How can you correct this mistake?
AO Use an adjusting journal entry
BO Directly adjust the 941 and the W-2s
Record an adjustment in Adjust Payroll Liabilities and select "Do not affect accounts"
Record an adjustment in Adjust Payroll Liabilities and select "Affect liability and expense account balances"
D
Transcribed Image Text:Question 28 of 35 Instead of using the Pay Scheduled Liabilities window, a client paid insurance deducted from paychecks by writing a regular check and listed the Insurance Liability account as the expense. How can you correct this mistake? AO Use an adjusting journal entry BO Directly adjust the 941 and the W-2s Record an adjustment in Adjust Payroll Liabilities and select "Do not affect accounts" Record an adjustment in Adjust Payroll Liabilities and select "Affect liability and expense account balances" D
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Bank reconciliation statement
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
  • SEE MORE QUESTIONS
Recommended textbooks for you
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q…
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub