Homework Answers
Wages earned but not paid = $9,000
The given transaction will have the following effect:
- Wages expense will increase by $9,000
- Wages payable will increase by $9,000
Hence, the following adjusting entry will be made at December 31, 2019:
| General Journal | Debit | Credit |
| Wages expense | $9,000 | |
| Wages payable | $9,000 |
First option is correct.
Kindly give a positive rating if you are satisfied with this solution and please ask if you have any query.
Thanks
Add Answer to:
QUESTIONS Tate Company employees earned $9,000 in December 2019 that will not be paid until January...
VULELE Tate Company paid $12,000 for a one-year insurance policy on February 1, 2019 and the...
VULELE Tate Company paid $12,000 for a one-year insurance policy on February 1, 2019 and the insurance coverage began on February 1. Assuming the company made the most appropriate journal entry to record the insurance on February 1 and that no other adjusting entries have been made, the December 31, 2020 adjusting entry is debit Insurance Expense and credit Prepaid Insurance Expense for $11,000. debit Prepaid Insurance Expense and credit Insurance Expense for $11,000. debit Prepaid Insurance Expense and credit...
Illustration: Kasten Inc. provides paid vacations to its employees. At December 31, 2019, 30 employees have...
Illustration: Kasten Inc. provides paid vacations to its employees. At December 31, 2019, 30 employees have each earned 2 weeks of vacation time. The employees' average salary is $500 per week. Kasten does not accrue based on future salary rates. Employees can accrue a maximum of 4 weeks vacation after which any additional days earned are lost. Unused vacation days can be carried over to the following year. (a) Prepare Kasten's December 31, 2019, adjusting entry. Salaries and Wages Expense...
a. Wages of $9,000 are earned by workers but not paid as of December 31. b....
a. Wages of $9,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $12,040. c. The Office Supplies account had a $460 debit balance at the beginning of the year. During the year, $5,110 of office supplies are purchased. A physical count of supplies at December 31 shows $561 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
Flagg records adjusting entries at its December 31 year end. At December 31, employees had earned...
Flagg records adjusting entries at its December 31 year end. At December 31, employees had earned $13,600 of unpaid and unrecorded salaries. The next payday is January 3, at which time $34,000 will be paid. Prepare the January 1 journal entry to reverse the effect of the December 31 salary expense accrual. Multiple Choice Debit Salaries payable $13,600, credit Salaries expense $13,600 ) 0 Debit Salaries expense $13,600; credit Salaries payable $13,600, 0 0 Debit Salaries payable $20,400; credit Cash...
Sunland Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days...
Sunland Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days and are paid hourly. Each employee earns 11 paid vacation days and 8 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Wage Rate Vacation Days Used by...
a. Wages of $9,000 are earned by workers but not paid as of December 31 b....
a. Wages of $9,000 are earned by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $11,680. c. The Office Supplies account had a $460 debit balance at the beginning of the year. During the year, 55,603 of office supplies are purchased a physical count of supplies at December 31 shows $610 of supplies available d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
Required information [The following information applies to the questions displayed below.] Aubrae and Tylor Williamson began...
Required information [The following information applies to the questions displayed below.] Aubrae and Tylor Williamson began operations of their furniture repair shop (Furniture Refinishers, Inc.) on January 1, 2019. The annual reporting period ends December 31. The trial balance on January 1, 2020, was as follows: Furniture Refinishers, Inc. Trial Balance on January 1, 2020 Account Titles Debit Credit Cash 8,000 Accounts receivable 7,000 Supplies 2,000 Small tools 11,000 Equipment Accumulated depreciation (on equipment) Other noncurrent assets (not detailed to...
Qualpoint provides its employees two weeks of paid vacation per year. As of December 31, 65...
Qualpoint provides its employees two weeks of paid vacation per year. As of December 31, 65 employees have earned two weeks of vacation time to be taken the following year. If the average weekly salary for these employees is $1,140, what is the required journal entry? Debit Salaries and Wages Payable for $147,600 and credit Salaries and Wages Expense for $147,600. Debit Salaries and Wages Expense for $74,100 and credit Salaries and Wages Payable for $74,100. ...
On November 30, 2019, Tate Company collected cash of $4,500 for work to be done evenly...
On November 30, 2019, Tate Company collected cash of $4,500 for work to be done evenly over the next three months beginning December 1, 2019. Assuming the company used the most appropriate journal entry to record this transaction on November 30th, the December 31, 2019 adjusting entry is debit Unearned Revenue and credit Service Revenue for $4,500, debit Unearned Revenue and credit Service Revenue for $1,500. debit Service Revenue and credit Unearned Revenue for $1,500. debit Cash and credit Service...
E3-7 A partial adjusted trial balance of Piper Company at January 31, 2020, shows the following....
E3-7 A partial adjusted trial balance of Piper Company at January 31, 2020, shows the following. PIPER COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020 Credit Debit $ 700 Supplies Prepaid Insurance 2,400 Salaries and Wages Payable $ 800 750 Unearned Service Revenue Supplies Expense Insurance Expense 950 400 Service Revenue 2,000 Instructions Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was...
VULELE Tate Company paid $12,000 for a one-year insurance policy on February 1, 2019 and the insurance coverage began on February 1. Assuming the company made the most appropriate journal entry to record the insurance on February 1 and that no other adjusting entries have been made, the December 31, 2020 adjusting entry is debit Insurance Expense and credit Prepaid Insurance Expense for $11,000. debit Prepaid Insurance Expense and credit Insurance Expense for $11,000. debit Prepaid Insurance Expense and credit...
a. Wages of $9,000 are earned by workers but not paid as of December 31. b. Depreciation on the company's equipment for the year is $12,040. c. The Office Supplies account had a $460 debit balance at the beginning of the year. During the year, $5,110 of office supplies are purchased. A physical count of supplies at December 31 shows $561 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
Flagg records adjusting entries at its December 31 year end. At December 31, employees had earned $13,600 of unpaid and unrecorded salaries. The next payday is January 3, at which time $34,000 will be paid. Prepare the January 1 journal entry to reverse the effect of the December 31 salary expense accrual. Multiple Choice Debit Salaries payable $13,600, credit Salaries expense $13,600 ) 0 Debit Salaries expense $13,600; credit Salaries payable $13,600, 0 0 Debit Salaries payable $20,400; credit Cash...
a. Wages of $9,000 are earned by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $11,680. c. The Office Supplies account had a $460 debit balance at the beginning of the year. During the year, 55,603 of office supplies are purchased a physical count of supplies at December 31 shows $610 of supplies available d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
On November 30, 2019, Tate Company collected cash of $4,500 for work to be done evenly over the next three months beginning December 1, 2019. Assuming the company used the most appropriate journal entry to record this transaction on November 30th, the December 31, 2019 adjusting entry is debit Unearned Revenue and credit Service Revenue for $4,500, debit Unearned Revenue and credit Service Revenue for $1,500. debit Service Revenue and credit Unearned Revenue for $1,500. debit Cash and credit Service...
E3-7 A partial adjusted trial balance of Piper Company at January 31, 2020, shows the following. PIPER COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020 Credit Debit $ 700 Supplies Prepaid Insurance 2,400 Salaries and Wages Payable $ 800 750 Unearned Service Revenue Supplies Expense Insurance Expense 950 400 Service Revenue 2,000 Instructions Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was...
Most questions answered within 3 hours.
-
26) Briefly describe, using words or simple diagrams, the
chemiosmotic theory for coupling oxidation to phosphorylation...
asked 1 hour ago -
Suppose that XX is a random variable with mean 16 and standard
deviation 5 . Also...
asked 2 hours ago -
Calculate the number density of argon gas at a temperature of
24C and a pressure of...
asked 5 hours ago -
Alternative
Classification
How to Estimate
Probabilities from Data? ( For continuous Attributes)
And How to generate...
asked 5 hours ago -
An explosion breaks a 20.0-kg object into three parts. The
object is initially moving at a...
asked 6 hours ago -
Calculate the approximate number of residues of Rubisco, which
is involved in carbon fixation in plants,...
asked 7 hours ago -
Other decisions about scientific claims can have a much broader
impact.ENERGYarrow-10x10.png, environment, health, security - all...
asked 8 hours ago -
I need to write a research paper and work cited about this
topic: The United States...
asked 8 hours ago -
Hello! I was wondering if I could have some help?
If the vapor pressure of carvone...
asked 9 hours ago -
An economist wants to estimate the mean per capita income (in
thousands of dollars) for a...
asked 9 hours ago -
What would be the input/output characteristic of a circuit
obtained by putting two of your 2's-complementers...
asked 9 hours ago -
In Drosophila, the transition from the syncytial blastoderm
stage to the cellular blastoderm stage is a...
asked 9 hours ago