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  • Chapt 11

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    The document shows account balances and journal entries for various expense and payable accounts. It provides beginning and ending balances for accounts payable, interest payable, salaries payable, employee income taxes payable, FICA taxes payable, and long term notes payable. Journal entries debit expenses and credit the related payable accounts. The balance sheet lists the ending balances of the payable accounts totaling $149,040.

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    The document shows account balances and journal entries for various expense and payable accounts. It provides beginning and ending balances for accounts payable, interest payable, salaries payable, employee income taxes payable, FICA taxes payable, and long term notes payable. Journal entries debit expenses and credit the related payable accounts. The balance sheet lists the ending balances of the payable accounts totaling $149,040.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    8 views2 pages

    Chapt 11

    Uploaded by

    mikecleef
    The document shows account balances and journal entries for various expense and payable accounts. It provides beginning and ending balances for accounts payable, interest payable, salaries payable, employee income taxes payable, FICA taxes payable, and long term notes payable. Journal entries debit expenses and credit the related payable accounts. The balance sheet lists the ending balances of the payable accounts totaling $149,040.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    Chapter 11 Assignment

    P11-30B

    Account Beginning Debit Credit Ending Balance


    Balance
    Accounts 118,00 4,800 122,800
    Payable
    Interest payable 0 19,800 19,800
    Salaries payable 0 4,800 4,800
    Employee 0 920 920
    Income Taxes
    Payable
    FICA OASI taxes 0 720 720
    payable
    Long term Notes 198,000 39,600 158,400
    Payable
    Unearned Rent 5,400 5,400 0
    Revenue

    Journal entry
    Account Title Debit Credit
    Interest expense 1,650
    Interest Payable 1,650
    Salaries Expense 4,800
    Salaries Payable 4,800
    FICA OASDI Taxes expense 297.60
    FICA OASDI taxes payable 297.60
    Employee income taxes 920
    payable
    920
    Unearned Rent Revenue 5,400
    Rent Revenue 5,400

    Balance Sheet
    Account title Amount
    Accounts Payable 122,800
    Interest Payable 19,800
    Salaries Payable 4,800
    Employee Income Taxes payable 920
    FICA OASDI taxes payable 720
    Total 149,040

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