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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