Financial and Managerial Accounting
15th Edition
ISBN: 9780357297162
Author: Carl S. Warren; Jefferson P. Jones; William B. Tayler, Ph.D., CMA
Publisher: Cengage Learning US
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Textbook Question
Chapter 4, Problem 30E
Entries posted to wages expense account
Portions of the salaries expense account of a business follow:
- A. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which each numbered posting was made.
- B. Journalize the complete entry from which each numbered posting was made.
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Question 1
For each of the following records, indicate the appropriate related file structure: master file, transaction file, reference file, or archive file
customer ledgers
sales orders
vendor ledgers
hours each employee has worked during the current pay period.
Tax tables.
Prepare the journal entry for the salaries and wages paid.
In which journal would the payment of salaries be posted? a.cash receipts journal b.special journal c.cash payments journal d.expense journal
Chapter 4 Solutions
Financial and Managerial Accounting
Ch. 4 - Why do some accountants prepare an end-of-period...Ch. 4 - Describe the nature of the assets that compose the...Ch. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Why are closing entries required at the end of an...Ch. 4 - Prob. 6DQCh. 4 - What is the purpose of the post-closing trial...Ch. 4 - Prob. 8DQCh. 4 - Which step of the accounting cycle is optional?Ch. 4 - Prob. 10DQ
Ch. 4 - Flow of accounts into financial statements The...Ch. 4 - Prob. 2BECh. 4 - Classified balance sheet The following accounts...Ch. 4 - Closing entries After the accounts have been...Ch. 4 - Accounting cycle From the following list of steps...Ch. 4 - Working capital and current ratio Current assets...Ch. 4 - Flow of accounts into financial statements The...Ch. 4 - Classifying accounts Balances for each of the...Ch. 4 - Financial statements from the end-of-period...Ch. 4 - Financial statements from the end-of-period...Ch. 4 - Income statement The following account balances...Ch. 4 - Income statement; net loss The following revenue...Ch. 4 - Income statement FedEx Corporation (FDX) had the...Ch. 4 - Statement of stockholders equity Climate Control...Ch. 4 - Statement of stockholders equity; net loss...Ch. 4 - Classifying assets Identify each of the following...Ch. 4 - Balance sheet classification At the balance sheet...Ch. 4 - Balance sheet Dynamic Weight Loss Co. offers...Ch. 4 - Balance sheet The following balance sheet was...Ch. 4 - Identifying accounts to be closed From the list...Ch. 4 - Closing entries with net income Automation...Ch. 4 - Closing entries with net loss Summit Services Co....Ch. 4 - Identifying permanent accounts Which of the...Ch. 4 - Post-closing trial balance An accountant prepared...Ch. 4 - Steps in the accounting cycle Rearrange the...Ch. 4 - Completing an end-of-period spreadsheet List (a)...Ch. 4 - Appendix 1 Adjustment data on an end-of-period...Ch. 4 - Prob. 22ECh. 4 - Appendix 1 Financial statements from an...Ch. 4 - Appendix 1 Adjusting entries from an end-of-period...Ch. 4 - Prob. 25ECh. 4 - Reversing entry The following adjusting entry for...Ch. 4 - Adjusting and reversing entries On the basis of...Ch. 4 - Adjusting and reversing entries On the basis of...Ch. 4 - Entries posted to wages expense account Portions...Ch. 4 - Entries posted to wages expense account Portions...Ch. 4 - Financial statements and closing entries Beacons...Ch. 4 - Financial statements and closing entries Foxy...Ch. 4 - T accounts, adjusting entries, financial...Ch. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Complete accounting cycle For the past several...Ch. 4 - Financial statements and closing entries Last...Ch. 4 - Financial statements and closing entries The...Ch. 4 - T accounts, adjusting entries, financial...Ch. 4 - Ledger accounts, adjusting entries, financial...Ch. 4 - Complete accounting cycle For the past several...Ch. 4 - The unadjusted trial balance of PS Music as of...Ch. 4 - Kelly Pitney began her consulting business, Kelly...Ch. 4 - Analyze and compare Amazon.com to Best Buy...Ch. 4 - Analyze and compare Zynga, Electronic Arts, and...Ch. 4 - Analyze and compare Foot Locker and The Finish...Ch. 4 - Analyze Under Armour The following year-end data...Ch. 4 - Prob. 5MADCh. 4 - Analyze and compare Alphabet (Google) and...Ch. 4 - Prob. 1TIFCh. 4 - Your friend, Daniel Nat, recently began work as...Ch. 4 - Prob. 4TIFCh. 4 - Prob. 5TIF
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- Entries posted to wages expense account Portions of the salaries expense account of a business follow: A. Indicate the nature of the entry (payment, adjusting, closing, reversing) from which each numbered posting was made. B. Journalize the complete entry from which each numbered posting was made.arrow_forwardIdentify which of the following accounts would be listed on the company’s Post-Closing TrialBalance.A. Accounts ReceivableB. Accumulated DepreciationC. CashD. Office ExpenseE. Note PayableF. Rent RevenueG. Retained EarningsH. Unearned Rent Revenuearrow_forwardComplete the statement: closing entries ________ A. Reflect the net income for the accounting period B. Are also posted in the subsidiary ledgers C. Involve all ledger accounts D. Are recorded in the special journals The process wherein transactions are recorded in the journal are transferred to the appropriate accounts in the general ledger and subsildiary ledgers, if appropriate, is called ___________ A. Ledgering B. Analyzing C. Posting D. Journalizingarrow_forward
- Which of the following is nonbusiness transaction? a. Payment of advance salary to an employee just hired b. Setting up of chart of accounts c. Payment of rent in advance d. Receipt of electricity billarrow_forwardIdentify which of the following accounts would be included in a post-closing trial balance. Salaries Payablearrow_forward1. Complete the statement: closing entries ________ A. Reflect the net income for the accounting period B. Are also posted in the subsidiary ledgers C. Involve all ledger accounts D. Are recorded in the special journalsarrow_forward
- CREATE YOUR OWN FORM OF “CHART OF ACCOUNTS”arrow_forwardThe revenue recognition principle dictates that revenue should be recognized in the accounting records Select one: a. when cash is received. b. in the period that income taxes are paid. c. when the performance obligation is satisfied. d. at the end of the month.arrow_forwardAn invoice number is: a.added to the Post Ref. column of the ledger account. b.mentioned in the explanation of the related journal entry. c.added to the Post Ref. column of the journal. d.mentioned in the ledger accounts related to the journal entry.arrow_forward
- a list of each customer account and thre balance owed is a:arrow_forwardFor each account, identify whether it is included in a post-closing trial balance.. a. Haircutting Revenue b. Consulting Revenue c. Wages Payable d. Salaries Expense e. Commission Revenue f. Postage Expense Included in post-closing trial balance?arrow_forwardUsing the following revenue journal for Bowman Cleaners Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to subsidiary ledger accounts:arrow_forward
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