Solution manual accounting warren 25e SM APPB final Solution manual accounting warren 25e SM APPB final Solution manual accounting warren 25e SM APPB final Solution manual accounting warren 25e SM APPB final Solution manual accounting warren 25e SM APPB final Solution manual accounting warren 25e SM APPB final Solution manual accounting warren 25e SM APPB final
APPENDIX B REVERSING ENTRIES Ex B–1 a (1) Sales Salaries Expense Salaries Payable Accrued salaries ($11,750 ÷ days = $2,350; $2,350 × days) 7,050 (2) Accounts Receivable Fees Earned Accrued fees earned 51,300 b (1) Salaries Payable Sales Salaries Expense Reversing entry 7,050 (2) Fees Earned Accounts Receivable Reversing entry 51,300 7,050 51,300 7,050 51,300 Ex B–2 a (1) Wages Expense Wages Payable Accrued wages ($66,000 ÷ days) 13,200 (2) Accounts Receivable Fees Earned Accrued fees earned 25,000 b (1) Wages Payable Wages Expense Reversing entry 13,200 (2) Fees Earned Accounts Receivable Reversing entry 25,000 13,200 25,000 13,200 25,000 B-1 © 2014 Cengage Learning All Rights Reserved May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part APPENDIX B Reversing Entries Ex B–3 a (1) Payment (last payday in year) (2) Adjusting (accrual of wages at end of year) (3) Closing (4) Reversing (5) Payment (first payday in following year) b (1) Wages Expense Cash 15,400 (2) Wages Expense Wages Payable Accrued wages 9,250 (3) Income Summary Wages Expense 809,250 (4) Wages Payable Wages Expense Reversing entry 9,250 (5) Wages Expense Cash 14,800 15,400 9,250 809,250 9,250 14,800 Ex B–4 a (1) Payment (last payday in year) (2) Adjusting (accrual of wages at end of year) (3) Closing (4) Reversing (5) Payment (first payday in following year) b (1) Salaries Expense Cash 22,000 (2) Salaries Expense Salaries Payable Accrued salaries 13,200 (3) Income Summary Salaries Expense 1,213,200 (4) Salaries Payable Salaries Expense Reversing entry 13,200 (5) Salaries Expense Cash 24,000 22,000 13,200 1,213,200 13,200 24,000