At March 31, 2019, the end of the first year of operations at Lukancic Inc., the firm’s accountant neglected to accrue payroll taxes of $6,370 that were applicable to payrolls for the year then ended. Exercise 7-7 (Algo) Part a - Journal Entry a-2. Record the journal entry to show the effect of the accrual that should have been made as of March 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
At March 31, 2019, the end of the first year of operations at Lukancic Inc., the firm’s accountant neglected to accrue payroll taxes of $6,370 that were applicable to payrolls for the year then ended. Exercise 7-7 (Algo) Part a - Journal Entry a-2. Record the journal entry to show the effect of the accrual that should have been made as of March 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 7RE: Wallace Corporation summarizes the following information from its weekly payroll records during...
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At March 31, 2019, the end of the first year of operations at Lukancic Inc., the firm’s accountant neglected to accrue payroll taxes of $6,370 that were applicable to payrolls for the year then ended.
Exercise 7-7 (Algo) Part a - Journal Entry
a-2. Record the journal entry to show the effect of the accrual that should have been made as of March 31, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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