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April 19, 2015

Homework Help: Accounting

Posted by davve on Monday, March 5, 2012 at 1:46pm.

DATA:
The 2011 employee performance bonus will be $10 mil.
The bonus is paid in March of 2012 is $9 mil
The 2012 employee performance bonus will be $12 mil.
The bonus is paid in March of 2013


Exercise:
What is the monthly accrual amount?
What account is debited?
What account is credited?

Create and account reconciliation for 2012 with the data provided above


What recommendations do you have for this account to ensure it is proper?

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