The Lewiston Company accrues $100 for one day’s wage expense at 12/31/22. The 1/2/23 reversing entry is not made. These wages plus wages of two days in the new year are paid on 1/2/23. Total cash paid is $300. The following journal entry is made on 1/2/23: Wage Expense $300 Cash $300 Indicate the errors for 12/31/23 Retained Earnings and 2023 Wage Expense, respectively:

since $100 worth of 2022 wages were reported ion 2023, the wages expense account for 2023 will be overstated by $100, so net income 2023 will be understated by $100.

Even thought the net income 2023 was understated, the retained earnings account will not be understated. This is because the net income 2022 was overstated by $100, which will offset the understatement of the net income 2023 account.

Wages expense is a temporal account which must be closed at the end of the accounting period, while retained earnings is a permanent account that is carried from one year to another.

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

~

answer: technology

hope i

-lavira: )