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Trash removal accrual for January 1,000
Trash removal accrual for February 1,000
Trash removal paid in March for January thru June 6,000

a) Prepare journal entries in January, February, March and April including reversals of accruals, A/P and payment of A/P




b) What is March鈥檚 trash removal expense on the income statement?

c) What is March鈥檚 YTD trash removal expense on the income statement?

d) What is the operating expense liability (accrual) account balance in March?

a)
Jan. 31
dr trash removal expense 1,000.
cr accounts payable 1,000.

Feb. 28
dr trash removal expense 1,000.
cr accounts payable 1,000.

March 31
dr trash removal expense 1,000.
dr accounts payable 2,000.
dr prepaid trash removal 3,000.
cr cash 6,000.

b)
March trash removal expense = 1,000.

c)
March's YTD trash removal expense = 3,000.

d)
trash removal liability account balance (accrual) March = 0

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