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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
