Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Aug 2017 My Price 11.00

Xitrex, Inc.

The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end is June 30, which falls on a Wednesday for the current year. Wages are earned evenly throughout the five-day workweek, and $22,000 will be paid on Friday, July 2.

 

Required:

1.

Prepare an adjusting entry to record the accrued wages as of June 30, a reversing entry on July 1, and an entry to record the payment of wages on July 2. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)

 

 

  • 1. Record the accrued wages as of June 30.
  • 2. Record the reversing entry on July 1.
  • 3. Record the payment of wages on July 2.

    Prepare journal entries to record the accrued wages as of June 30 and the payment of wages on July 2 assuming a reversing entry is not made. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)

     

     

     

    • Record the accrued wages as of June 30.
    • 2. Record the payment of wages on July 2 assuming a reversing entry is not made.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 12:08 AM My Price 11.00

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