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Exercise#14-ACCRUED EXPENSES: Dune Corporation pays its employees $1,000 per Tive-day work week on Fridays. June 30...
Sail, Inc. pays its workforce on Fridays for a five-day workweek ending on that day. The...
Sail, Inc. pays its workforce on Fridays for a five-day workweek ending on that day. The payroll for a week is $165,000. If the accounting year-end falls on a Tuesday, the adjusting journal entry to record this will include a Multiple Choice debit to Salaries and Wages Expense $165,000. debit to Salaries and Wages Expense $66,000. credit to Salaries and Wages Payable $99,000.
Mandalay Company frequently has accrued expenses at the end of its fiscal year that should be...
Mandalay Company frequently has accrued expenses at the end of its fiscal year that should be recorded for proper financial statement presentation. Mandalay pays on a weekly basis and has $50,000 of accrued salaries incurred but not paid for June 30, its fiscal year-end. This consists of one day's accrued salaries for the week. The company will pay its employees $250,000 on July 4; the one day of accrued salaries and the remaining four days for July salaries. Record the...
The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end is June 30,...
The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end is June 30, which falls on a Wednesday for the current year. Salaries are eamed evenly throughout the five-day work week, and $14,000 will be paid on Friday, July 2, Required: 1. Prepare an adjusting entry to record the accrued salaries as of June 30, a reversing entry on July 1, and an entry to record the payment of salaries on July 2. 2. Prepare journal entries...
The employees of Xitrex, Inc., are paid each Friday. The company’s fiscal year-end is June 30,...
The employees of Xitrex, Inc., are paid each Friday. The
company’s fiscal year-end is June 30, which falls on a Wednesday
for the current year. Salaries and wages are earned evenly
throughout the five-day work week, and $11,000 will be paid on
Friday, July 2.
Required:
1. Prepare an adjusting entry to record the
accrued salaries and wages as of June 30, a reversing entry on July
1, and an entry to record the payment of salaries and wages on...
Exercise 2-21 (Algo) Reversing entries (Appendix 2B) The employees of Xitrex, Inc., are paid each Friday....
Exercise 2-21 (Algo) Reversing entries (Appendix 2B) The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end is June 30, which falls on a Wednesday for the current year. Salaries are earned evenly throughout the five-day work week, and $21,000 will be paid on Friday, July 2. Required: 1. Prepare an adjusting entry to record the accrued salaries as of June 30, a reversing entry on July 1, and an entry to record the payment of salaries...
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 2-21 (Algo) Reversing entries (Appendix 2B] The employees of Xitrex, Inc., are paid each Friday....
Exercise 2-21 (Algo) Reversing entries (Appendix 2B] The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end is June 30, which falls on a Wednesday fort current year. Salaries are earned evenly throughout the five-day work week, and $19,000 will be paid on Friday, July 2. Required: 1. Prepare an adjusting entry to record the accrued salaries as of June 30, a reversing entry on July 1, and an entry to record the payment of salaries on...
Saved Exercise 2-21 (Algo) Reversing entries (Appendix 2B] The employees of Xitrex, Inc., are paid each...
Saved Exercise 2-21 (Algo) Reversing entries (Appendix 2B] The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end Is June 30, which falls on a Wednesday for the current year. Salaries are earned evenly throughout the five-day work week, and $29,000 will be paid on Friday, July 2 Required: 1. Prepare an adjusting entry to record the accrued salaries as of June 30, a reversing entry on July 1, and an entry to record the payment of...
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,...
Sail, Inc. pays its workforce on Fridays for a five-day workweek ending on that day. The payroll for a week is $165,000. If the accounting year-end falls on a Tuesday, the adjusting journal entry to record this will include a Multiple Choice debit to Salaries and Wages Expense $165,000. debit to Salaries and Wages Expense $66,000. credit to Salaries and Wages Payable $99,000.
The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end is June 30, which falls on a Wednesday for the current year. Salaries are eamed evenly throughout the five-day work week, and $14,000 will be paid on Friday, July 2, Required: 1. Prepare an adjusting entry to record the accrued salaries as of June 30, a reversing entry on July 1, and an entry to record the payment of salaries on July 2. 2. Prepare journal entries...
The employees of Xitrex, Inc., are paid each Friday. The
company’s fiscal year-end is June 30, which falls on a Wednesday
for the current year. Salaries and wages are earned evenly
throughout the five-day work week, and $11,000 will be paid on
Friday, July 2.
Required:
1. Prepare an adjusting entry to record the
accrued salaries and wages as of June 30, a reversing entry on July
1, and an entry to record the payment of salaries and wages on...
Exercise 2-21 (Algo) Reversing entries (Appendix 2B) The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end is June 30, which falls on a Wednesday for the current year. Salaries are earned evenly throughout the five-day work week, and $21,000 will be paid on Friday, July 2. Required: 1. Prepare an adjusting entry to record the accrued salaries as of June 30, a reversing entry on July 1, and an entry to record the payment of salaries...
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 2-21 (Algo) Reversing entries (Appendix 2B] The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end is June 30, which falls on a Wednesday fort current year. Salaries are earned evenly throughout the five-day work week, and $19,000 will be paid on Friday, July 2. Required: 1. Prepare an adjusting entry to record the accrued salaries as of June 30, a reversing entry on July 1, and an entry to record the payment of salaries on...
Saved Exercise 2-21 (Algo) Reversing entries (Appendix 2B] The employees of Xitrex, Inc., are paid each Friday. The company's fiscal year-end Is June 30, which falls on a Wednesday for the current year. Salaries are earned evenly throughout the five-day work week, and $29,000 will be paid on Friday, July 2 Required: 1. Prepare an adjusting entry to record the accrued salaries as of June 30, a reversing entry on July 1, and an entry to record the payment of...
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 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,...
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