Portions of the wages expense account of a business follow: Account Wages Expense Account No. 53 Balance Post. Ref. Cr. Date Item Dr. Cr. Dr. 2018 Dec.26 (1) 125 15,400 800,000 (2) 809,250 31 126 9,250 (3) 31 127 809,250 2019 Jan. 1 (4) 128 9,250 9,250 (5) 129 2 14,800 5,550 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. Close revenues and expenses to D. Bower, Capital.

Portions of the wages expense account of a business follow: Account Wages Expense Account No. 53 Balance Post. Ref. Cr. Date Item Dr. Cr. Dr. 2018 Dec.26 (1) 125 15,400 800,000 (2) 809,250 31 126 9,250 (3) 31 127 809,250 2019 Jan. 1 (4) 128 9,250 9,250 (5) 129 2 14,800 5,550 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. Close revenues and expenses to D. Bower, Capital.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter4: Completing The Accounting Cycle

Section: Chapter Questions

Problem 32E: Portions of the wages expense account of a business follow: a. Indicate the nature of the entry...

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