Question

Recording common adjusting entry in general journal for: 1. Accounting work completed but not billed at year-end, $8,400 2. Wages earned by employees prior to year-end but not paid, $22,640. Additional Employer Taxes, $2,683 (11.85%) 3. Unexpired Insurance at year-end equals $2,200; prepaid balance before adjustment $6,300

Answer 1

Adjusting entry #	Accounts title	Debit	Credit
1	Accounts receivables	$8,400
	Service Revenue		$8,400
	(to record work completed and earned but not received)
2	Wages expenses	$22,640
	Empoyer taxes payable		$2,683
	Wages Payable		$19,957
	(to record accrued wages)
3	Insurance Expense ($ 6300 - 2200)	$4,100
	Prepaid insurance		$4,100
	(to record expired portion)

answered by: anonymous