ZuoTi.Pro
Question

Exercise 3-1 Adjusting and paying accrued wages LO P1 Pablo Management has five part-time employees, each of whom earns $105 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 Years Day. (January 1) was an unpaid holiday 26 1. Prepare the year-end adjusting entry for wages expenses 2. Prepare the journal entry to record payment of the employees wages on Friday, January 4. Answer is complete but not entirely correct No Date General Journal Debit Credit December 31 Wages expense 420 Wages payable 20 2 January 04 Wages expense Wages payable -, 1260 O 420 3 Cash ,800 1 of 8 ii Next >
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Journal entries General Journal DateAccount Title and explanation Debit (in S) Credit (in S) December 31 Wages Expenses Wages Payable To record accrued wages 525 525 525 1575 January 4 Wages Pavable Wages Expenses Cash To record pavment of wages 2,100 Dec. 31: To record accrued wages for one day (5 workers *$105)-$525 Jan. 4: To record accrued and current wages Wages expense 5 workers 3 days S105 S1,575 Cash Payment 5 workers 4 days S105 S2,100

0 0
Add a comment
Know the answer?
Add Answer to:
Exercise 3-1 Adjusting and paying accrued wages LO P1 Pablo Management has five part-time employees, each...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Exercise 3-1 Adjusting and paying accrued wages LO P1 Pablo Management has six part-time employees, each...

    Exercise 3-1 Adjusting and paying accrued wages LO P1 Pablo Management has six part-time employees, each of whom earns $185 per day They are paid on Fridays for work completed Monday through Friday of the same week. Near year Friday, January 2, 3, and 4. New Year's Day. (January 1) was an unpaid holiday end, the six employees worked Monday, December 31, and Wednesday through 1. Prepare the year-end adjusting entry for wages expenses 2. Prepare the journal entry to...

  • Exercise 3-2 Adjusting and paying accrued wages LO P3 Pablo Management has five employees, each of...

    Exercise 3-2 Adjusting and paying accrued wages LO P3 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,...

  • Exercise 3-2 Adjusting and paying accrued wages LO P3 Pablo Management has seven employees, each of...

    Exercise 3-2 Adjusting and paying accrued wages LO P3 Pablo Management has seven employees, each of whom earns $225 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the seven employees worked Monday, December 31, and Wednesday through Friday, January 23, 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...

  • Exercise 3-3 Adjusting and paying accrued wages LO P3

    Exercise 3-3 Adjusting and paying accrued wages LO P3Pablo Management has ten employees, each of whom earns $195 per day. They are normally paid on Fridays for work completed. Monday through Friday of the same week. Near year-end, the ten 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...

  • Pablo Management has five part-time employees, each of whom earns $250 per day.

    Pablo Management has five part-time 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. 1. Prepare the year-end adjusting entry for wages expenses. 2. Prepare the journal entry to record payment of the employees' wages on Friday, January 4.

  • Pablo Management has five employees, each of whom earns $150 per day. They are paid on...

    Pablo Management has five employees, each of whom earns $150 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 View journal entry worksheet...

  • Pablo Management has two employees, each of whom earns $130 per day. They are paid on...

    Pablo Management has two employees, each of whom earns $130 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 23, 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 Alta Record...

  • Pablo Management has seven part-time employees, each of whom earns $125 per day. They are paid...

    Pablo Management has seven part-time employees, each of whom earns $125 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the seven employees worked Monday, December 31, and Wednesday through Friday, January 2, 3, and 4. New Year's Day. (January 1) was an unpaid holiday. 1. Prepare the year-end adjusting entry for wages expenses. 2. Prepare the journal entry to record payment of the employees' wages on Friday, January 4th.

  • Pablo Management has five employees, each of whom earns $250 per day. They are paid on...

    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...

    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. Pablo Management has two employees, each of...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT