Expense Journal Entry Example (Salary) h) In order to be able to successfully pull off the catering job for the wedding and for future jobs, George decides to hire an assistant. He paid the assistant a $4,000 salary. What happens with this? As usual, we're going to first take a loo...
The following is the entry of accrued salary in reversing journal. 7. Transfer Transfer journal entry records the transfer of amount from one account to another. For example, if a company moves assets between bank accounts or departments, they are recorded in a transfer journal. Example:A compa...
I was told that I just need to reverse the journal entries for the amount of vacation taken - credit PTO expense and debit Accrued PTO. Debiting Accrued PTO makes sense to me, but I thought that the offsetting entry should be to wages. For example, to make it simple, Employee A earns...
Journal Entry for Purchase of Goods Journal Entry for Purchase of Services Journal Entry for Making Payments for Purchases Journal Entry for Only Fulfilling Orders (transfer of goods/inventory out of the system) Journal Entry for Only Receiving Goods (transfer of goods/inventory into the system) As...
What is the Journal Entry for Deferred Revenue? Suppose a manufacturing company receives $10,000 payment for services that have not yet been delivered. The initial journal entry will be a debit to the cash account and credit to theunearned revenueaccount. ...
hourly/daily/weeklywageousalary forfaitjournalier individualcontributiontocostofstatehospitalcare Translations forjournalierin the English»French Dictionary (Go toFrench»English) Show summary of all matches Your search term in other parts of the dictionary ...
The journal entry to record salaries earned by 10 employees will: A. debit Salary Expense and credit Salary Payable for the net pay. B. debit Salary Expense and credit Salary Payable for the gross pay. C. debit Salary Expense for the gross pay, credit FICA Tax Payable, credit Employee ...
Using the figures from the examples above, the employer need to make the following journal entry to record the monthly payroll expense for Mark and Jane:AccountDrCr Salaries expense 21,667 Payroll taxes expense 1,618 Income taxes payable 3,500 FICA taxes payable 3,092 SUTA tax payable 63...
SALARYCOSTTRANSFERJOURNALENTRY(DOCUMENTTYPEZJ)...30ToselectlineitemsfortheNon-SalaryCostTransferfromthisreport...38ToenterHeaderinformationfortheentiredocument...39TomovetheentireamountofthelineitemtoanotherCostObject...41TomovetheentireamountofthelineitemtoanotherG/LAccount...42Tomovea...
July 31. Paid salary of assistant php. 700.July 31. Received PLDT bill, php. 1,800 and Meralco bill php. 3,800. Required:Prepare the journal entries, T accounts and trial balance for this business.Solution Journal Entries:July 1 Dr Cash 500,000 Dr Computer Eqpt 100,000 Cr Capital 600...