Our employees work Monday-Friday and earn $2,500 per week
Our employees work Monday-Friday and earn $2,500 per week. December 31. 2015 is a Thursday. What adjusting entry is required on December 31, 2015?
A) debit Wages Expense and credit Wages Payable for $2,000
B) debit Wages Expense and credit Wages Payable for $500
C) debit Wages Payable and credit Wages Expense for $500
D) debit Wages Payable and credit Wages Expense for $2,000
Homework Answers
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being paid at tAssume the company does not use reversing entries.
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Pablo Management has two employees, each of whom earns $220 per day. They are paid on...
Pablo Management has two employees, each of whom earns $220 per
day. They are paid on Fridays for work completed Monday through
Friday of the same week. Near year-end, the two employees worked
Monday, December 31, and Wednesday through Friday, January 2, 3,
and 4. New Year’s Day (January 1) was an unpaid holiday.
Prepare the year-end adjusting entry for wages expense qnd
record payment of the employees’ wages on Friday, January 4.
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preceding 5-day week (Monday through Friday). Assume December 31
falls on a Tuesday, so Crane’s employees have worked 2 days without
being paid at tAssume the company does not use reversing entries.
Prepare the December 31 adjusting entry and the entry on Monday,
January 6, when Crane pays the payroll. (Credit account
titles are automatically indented when amount is entered. Do not
indent manually. Record journal entries in the order...
Pablo Management has five employees, each of whom earns $250 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the five employees worked Monday, December 31, and Wednesday through Friday. January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday. Prepare the year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4. View transaction list Journal entry worksheet <...
Pablo Management has two employees, each of whom earns $220 per
day. They are paid on Fridays for work completed Monday through
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and 4. New Year’s Day (January 1) was an unpaid holiday.
Prepare the year-end adjusting entry for wages expense qnd
record payment of the employees’ wages on Friday, January 4.
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