Log in

View Full Version : Accounting Help P4-8A Retained earnings off


tchtec
Dec 19, 2011, 09:10 AM
Journalized entries... did something wrong Retained earning s/b 3200 not 5200? Can anyone see what I did wrong.

pready
Dec 19, 2011, 12:20 PM
Your Jul 18 entry is incorrect. Your Debit should be to Accounts Payable for 1,500 so you need to remove the 500 debit from your Supplies Expense and increase your Accounts Payable debit by 500.

On your Jul 20 transaction you posted a 2,000 debit to Salaries and Wages Payable, but it should be to Salaries and Wages Expense.

The rest of your entries look good.