APPENDIX B
REVERSING ENTRIES
Ex. B–1
a. (1) Sales Salaries Expense ……………………………………… 7,050
Salaries Payable……………………………………………. 7,050
(2) Accounts Receivable …………………………………………. 51,300
Accrued fees earned.
b. (1) Salaries Payable ………………………………………………… 7,050
(2) Fees Earned ………………………………………………………. 51,300
Ex. B–2
a. (1) Wages Expense …………………………………………………. 13,200
(2) Accounts Receivable …………………………………………. 25,000
(2) Fees Earned ………………………………………………………. 25,000
APPENDIX B Reversing Entries
Ex. B–3
a. (1) Payment (last payday in year)
(3) Closing
(5) Payment (first payday in following year)
(2) Wages Expense …………………………………………………. 9,250
(3) Income Summary ………………………………………………. 809,250
Wages Expense ……………………………………………. 809,250
(4) Wages Payable ………………………………………………….. 9,250
APPENDIX B Reversing Entries
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Ex. B–4
a. (1) Payment (last payday in year)
(2) Adjusting (accrual of wages at end of year)
(4) Reversing
b. (1) Salaries Expense ……………………………………………….. 22,000
Cash …………………………………………………………….. 22,000
(2) Salaries Expense ……………………………………………….. 13,200
(4) Salaries Payable ………………………………………………… 13,200
(5) Salaries Expense ……………………………………………….. 24,000