The wages payable and wages expense accounts at May 31, after adjusting entries have been posted at the end of the first month of operations, are shown in the following T accounts: Wages Payable Wages Expense Bal. 73,250 Bal. 7,175 Determine the amount of wages paid during the month.
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- The trial balance for Wilson Financial Services on January 31 is as follows: Data for month-end adjustments are as follows: a. Expired or used-up insurance, 750. b. Depreciation expense on equipment, 300. c. Wages accrued or earned since the last payday, 1,055 (owed and to be paid on the next payday). d. Supplies used, 535. Required 1. Complete a work sheet for the month. (Skip this step if using CLGL.) 2. Journalize the adjusting entries. 3. If using CLGL, prepare an adjusted trial balance. 4. Prepare an income statement, a statement of owners equity, and a balance sheet. Assume that no additional investments were made during January.The following partial work sheet covers the affairs of Masanto and Company for the year ended June 30. Required 1. Journalize the six adjusting entries. 2. Journalize the closing entries. 3. Journalize the reversing entry as of July 1, for the salaries that were accrued in the June adjusting entry. Check Figure Reversing entry amount, 1,240The trial balance for Benner Hair Salon on March 31 is as follows: Data for month-end adjustments are as follows: a. Expired or used-up insurance, 300. b. Depreciation expense on equipment, 500. c. Wages accrued or earned since the last payday, 235 (owed and to be paid on the next payday). d. Supplies remaining at the end of the month, 65. Required 1. Complete a work sheet for the month. (Skip this step if using CLGL.) 2. Journalize the adjusting entries. 3. Prepare an income statement, a statement of owners equity, and a balance sheet. Assume that no additional investments were made during March.
- The trial balance for Game Time on July 31 is as follows: Data for month-end adjustments are as follows: Expired or used-up insurance, 480. Depreciation expense on equipment, 850. Depreciation expense on repair equipment, 120. Wages accrued or earned since the last payday, 525 (owed and to be paid on the next payday). Supplies used, 70. Required Complete a work sheet for the month. (Skip this step if using CLGL.) Journalize the adjusting entries. If using CLGL prepare an adjusted trial balance. Prepare an income statement, a statement of owners equity, and a balance sheet. Assume that no additional investments were made during July. If you are using CLGL, use the year 2020 when recording transactions and preparing reports.The account balances of Bryan Company as of June 30, the end of the current fiscal year, are as follows: Required 1. Data for the adjustments are as follows: a. Expired or used up insurance, 495 b. Depreciation expense on equipment, 670. c. Depreciation expense on the van, 1,190. d. Salary accrued (earned) since the last payday, 540 (owed and to be paid on the next payday). e. Supplies used during the period, 97. Your instructor may want you to use a work sheet for these adjustments. 2. Journalize the adjusting entries. 3. Prepare an income statement. 4. Prepare a statement of owners equity. Assume that there was an additional investment of 2,000 on June 10. 5. Prepare a balance sheet. 6. Journalize the closing entries using the four steps in the correct sequence. Check Figure Net Income, 13,627The trial balance of The New Decors for the month ended September 30 is as follows: Data for the adjustments are as follows: a. Expired or used-up insurance, 425. b. Depreciation expense on equipment, 2,750. c. Wages accrued or earned since the last payday, 475 (owed and to be paid on the next payday). d. Supplies remaining at end of month, 215. Required 1. Complete a work sheet. (Skip this step if using GL.) 2. Journalize the adjusting entries. If you are using CLGL, use the year 2020 when recording transactions.