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-   -   Determine balance in Salaries payable on Nov.30,2010.company paid $15,250 in 2011 (https://www.askmehelpdesk.com/showthread.php?t=514595)

  • Oct 7, 2010, 06:31 PM
    Roblea123
    Determine balance in Salaries payable on Nov.30,2010.company paid $15,250 in 2011
    Trial balance November 30, 2011
    UNADJUSTED
    Salaries expense 12,875
    Salaries payable 0
    ADJUSTED
    Salaries expense 14350
    Salaries payable 1475

    Total unadjusted balance:146,350
    Total adjusted balance: 155, 150

    I can't figure out how to determine the balance in Salaries apyable for a previous year when I am only given the current year salaries of $15250. Please help!
  • Oct 7, 2010, 07:18 PM
    Roblea123

    Okay so I saw from a previous post with the same question that the salaries payable beginning balance is $2375. Would that then be the amount as of November 30 of the previous year? Or is there one more step? I just feel I'm missing something.
  • Oct 8, 2010, 11:48 AM
    pready

    The $2375 is the beginning balance for the 2011. The beginning balance is also the ending balance for Nov 30, 2010.

    Please see my previous answer on the same post dated 4 Oct, 2010.

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