At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and W

Question

At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payable of $0 and Salaries and Wages Expense of $25,000. Employees have been paid for work done up to December 27, but the $1,100 they have earned for December 28–31 has not yet been paid or recorded.

1. Prepare the adjusting journal entry on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance.

Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance.

Explanation / Answer

Adjusting entry: Date Accounts title and explanations Debit $ Credit $ 31-Dec Salaries and wages expense Account Dr. 1100     Salaries and wages payable 1100 Salaries and wages payable Balance 0 Dec31 Salaries and wages expense 1100 balance Dec31 1100 Salaries and wages expense Balance 25,000 Salaries and wages payable 1,100 Balance 26,100

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