12th Edition

ISBN: 9780134486444

Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

Publisher: PEARSON

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Textbook Question

Chapter 3, Problem S3.10SE

Journalizing and posting an adjusting entry for accrued salaries expense

Learning Objective 3

Birch Park Senior Center has a weekly payroll of $12,500. December 31 falls on Wednesday, and Birch Park Senior Center will pay its employees the following Monday (January 5) for the previous full week. Assume Birch Park Senior Center has a five-day workweek and has an unadjusted balance in Salaries Expense of $620,000.

Requirements

Record the adjusting entry for accrued salaries on December 31.
Post the adjusting entry to the accounts involved, and show their balances after adjustments.
Record the journal entry for payment of salaries made on January 5.

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Chapter 3, Problem S3.9SE

Chapter 3, Problem S3.11SE

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