Homework answers / question archive / Moilne pays salaries & lloo each month

Moilne pays salaries & lloo each month

Accounting

Share With

Moilne pays salaries & lloo each month. 31/12/2020 , the trial balance before adjustments salaries expense balance and the remaining unrecorded salantes amount, will be paid next adjusting cutre recolded will be

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview


Salaries expense balance before adjustment=$ 11000
Salaries expense per month=$ 1100
Hence,salaries expense balance represents 10 months salary (1100*10)
So,2 months salary need to be recorded as adjusting entry.
Adjusting entry will be:
Date	Account titles and explanation		Debit	Credit
31/12/20.	Salaries expense	(2*1100)	2200
	Salaries payable			2200