Appendix 2 Adjusting and reversing entries On the basis of the following data, (A) journalize the adjusting entries at June 30, the end of the current fiscal year, and (B) journalize the reversing entries on July 1, the first day of the following year: 1. Wages are uniformly $66,000 for a five-day workweek, ending on Friday. The last payday of the year was Thursday, June 27. 2. Accrued fees earned but not recorded at June 30, $25,000.
Corporate Financial Accounting
Corporate Financial Accounting
Solutions
Appendix 2
Adjusting and reversing entries
On the basis of the following data, (A) journalize the adjusting entries at June 30, the end of the current fiscal year, and (B) journalize the reversing entries on July 1, the first day of the following year:
1. Wages are uniformly $66,000 for a five-day workweek, ending on Friday. The last payday of the year was Thursday, June 27.
2. Accrued fees earned but not recorded at June 30, $25,000.
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