
Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615
Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615 Exercise 33
Adjusting entries for accrued salaries
Ocular Realty Co. pays weekly salaries of $16,600 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Wednesday and (b) on Thursday.
Ocular Realty Co. pays weekly salaries of $16,600 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Wednesday and (b) on Thursday.
Explanation
Adjusting entry:
• Adjusting en...
Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
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