[Dalimama1]

The company incurs a Payroll Payable of $645 per weekday of operations. The Mondays of January are the 3rd, the 10th, the 17th, the 24th, and the 31st. Paydays are every other Friday with paydays of January 7th & 21st and February 4th for the two weeks ending that date. The Friday, January 21st payday is complete and paid with no continuing forward payroll liability. Write the adjusting entry for January 31st in the space below:

The company pays payroll obligations on February 4th. No reversing entries have been made. Record the payroll obligations of February and write the journal entry to pay payroll on February 4th in the space below:

The company has fixed assets that scheduled depreciation is $39,600 annually. Write the adjusting entry to recognize the monthly depreciation for January in the space below:

The company’s Office Supplies account shows a debit balance of $3,755. An inspection of the office supplies locker on January 31st reveals only $635 worth of supplies. Write the adjusting entry for Office Supplies in the space below:

[enfritsch]

1. You have to determine the cost that has not hit the P&L yet, so I assume that is 5 work days, so 5 x 645 is 3225.

So you'd do

Payroll Exp 3225
Accrued Expenses(payroll) 3225

Then reverse than on Feb 1st.

2. Just record payroll like normal if you do the 2 entries above .

Payroll Expense xxxxx
Cash xxxxxx

3.Divide the 39600 by 12 for your monthly depreciation amount.

Depreciation Expense xxxxx
Accumulated Depreciation xxxxx

4.You just take the difference of the 2 numbers and write off the difference.

Supplies expense xxxxx
Office Supplies xxxxx

Most likely you should just expense supplies as you get them and not put them on the balance sheet though.

[morgaine300]

Both of you should please note the guidelines for posting homework problems:
https://www.askmehelpdesk.com/financ...-b-u-font.html

We are not here just to give answers to homework. Because of these guidelines, I am not going to simply give away the answers to these. However, I am going to point out where some things are wrong in this post:

1. You have to determine the cost that has not hit the P&L yet, so I assume that is 5 work days, so 5 x 645 is 3225.

So you'd do

Payroll Exp 3225
Accrued Expenses(payroll) 3225

This is incorrect. Not only is the amount incorrect -- pull out a calendar and look at it again, which is a suggestion for OP as well. All those dates are a little mind-boggling and a calendar is about the only way to solve it.

Most textbooks are not going to call the accounts by those names either. They might, but most won't.

Then reverse than on Feb 1st.

The problem specifically says it's not reversed.

2. Just record payroll like normal if you do the 2 entries above .

Payroll Expense xxxxx
Cash xxxxxx

The problem specifically says a reversing entry was not done.

Most likely you should just expense supplies as you get them and not put them on the balance sheet though.

NOT IN A TEXTBOOK. The problem specifically says they're in the asset account. I myself don't use that method, but the books do. State your opinion about it if you like, but don't expressly tell a student to do it a way that the book will consider incorrect.