At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payable of $0 and Salaries and Wages Expense of $17,000. Employees have been paid for work done up to December 27, but the $1,300 they have earned for December 28-31 has not yet been paid or recorded. Prepare the adjusting journal entry on December 31.

Question

Santos Mckenzie

Business

22 December, 11:19

At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payable of $0 and Salaries and Wages Expense of $17,000. Employees have been paid for work done up to December 27, but the $1,300 they have earned for December 28-31 has not yet been paid or recorded. Prepare the adjusting journal entry on December 31.

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Wilkerson · Answer 1

The adjusting entry is shown below:

Salaries and wages expense A/c Dr$1,300

To Salaries and wages payable A/c $1,300

(Being the salaries and wages expense is recorded)

Since the $1,300 have earned but not paid so for this we debited the salaries and wages expense account and credited the salaries and wages payable account