Homework Answers
Salary A/C Dr. $100
To Salary payable $100
(Being Salary payable for Thursday and Friday recorded @ $50 each day).
Add Answer to:
"X Company has one employee who earns $50 per day and is paid every Friday. Assume...
"X" Company has one employee who earns $50 per day and is paid every Friday, Assume...
"X" Company has one employee who earns $50 per day and is paid every Friday, Assume December 31, 2020 is a Wednesday. Give the adjusting entry on December 31, 2020 and the entry to record the payment of the salary on January 2. 2021 (ignore payroll taxes). 12/31/20 On January 1, 2020, X Company purchases a new machine for $5,500. The machine will last for five years after which "X" expects to receive $500 as a salvage on a newer...
Abc. Co. has one employee who earns $500 per week and is paid every Monday for...
Abc. Co. has one employee who earns $500 per week and is paid every Monday for the previous week worked. December 31st is a Wednesday. Your employee works Monday-Friday. a. Record the required adjusting entry on December 31st b. Record the payment to the employee on Monday, January 5th
Problem 3-Adjusting and Reversing Entries Employees at Wallstrom Company are paid every Friday for the five-day...
Problem 3-Adjusting and Reversing Entries Employees at Wallstrom Company are paid every Friday for the five-day week ending on that day. Salaries amount to $5,000 per wook. December 31 is a Wednesday, Instructions a Prepare the necessary adjusting entry at December 31, 2020. b. If the company chooses to use reversing entries, on what date would it make the entry and what is the journal entry? c. Assuming that the company made the reversing entry in (b), what would be...
Atlen Company has one employee named Mr. Hatfield who earns $100 per day. Mr. Hatfield works...
Atlen Company has one employee named Mr. Hatfield who earns $100 per day. Mr. Hatfield works Monday through Friday and is paid every Friday for the week ending on that day. December 31, 2015 falls on a Wednesday. A) What adjusting entry does Atlen Company need to make on December 31, 2015? Cr B) How does this transaction affect the following items? Net income Retained Earnings Total Assets Total Liabilities Total Equity: C) What journal entry does Atlen Company make...
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 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...
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 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.
Turbine Company pays its employees every other Friday. December 31, 2017, was a Sunday. On Friday,...
Turbine Company pays its employees every other Friday. December 31, 2017, was a Sunday. On Friday, January 5, 2018, Turbine paid wages of $154,000, which covered the 14-day period from December 20, 2017, through January 2, 2018. Wages were earned evenly across all days, including Saturdays and Sundays. Employee income taxes withheld for this payroll period totaled $14,035, while the FICA tax withheld was $15,400. (Ignore the employer payroll taxes in this exercise.) Prepare the entry to accrue the company's...
"X" Company has one employee who earns $50 per day and is paid every Friday, Assume December 31, 2020 is a Wednesday. Give the adjusting entry on December 31, 2020 and the entry to record the payment of the salary on January 2. 2021 (ignore payroll taxes). 12/31/20 On January 1, 2020, X Company purchases a new machine for $5,500. The machine will last for five years after which "X" expects to receive $500 as a salvage on a newer...
Problem 3-Adjusting and Reversing Entries Employees at Wallstrom Company are paid every Friday for the five-day week ending on that day. Salaries amount to $5,000 per wook. December 31 is a Wednesday, Instructions a Prepare the necessary adjusting entry at December 31, 2020. b. If the company chooses to use reversing entries, on what date would it make the entry and what is the journal entry? c. Assuming that the company made the reversing entry in (b), what would be...
Atlen Company has one employee named Mr. Hatfield who earns $100 per day. Mr. Hatfield works Monday through Friday and is paid every Friday for the week ending on that day. December 31, 2015 falls on a Wednesday. A) What adjusting entry does Atlen Company need to make on December 31, 2015? Cr B) How does this transaction affect the following items? Net income Retained Earnings Total Assets Total Liabilities Total Equity: C) What journal entry does Atlen Company make...
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 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
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...
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...
Turbine Company pays its employees every other Friday. December 31, 2017, was a Sunday. On Friday, January 5, 2018, Turbine paid wages of $154,000, which covered the 14-day period from December 20, 2017, through January 2, 2018. Wages were earned evenly across all days, including Saturdays and Sundays. Employee income taxes withheld for this payroll period totaled $14,035, while the FICA tax withheld was $15,400. (Ignore the employer payroll taxes in this exercise.) Prepare the entry to accrue the company's...
Most questions answered within 3 hours.
-
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 2 minutes ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 31 minutes ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 48 minutes ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 4 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 4 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 4 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 5 hours ago -
When a metal rod is heated, not only its resistance but also its
length and cross‐sectional...
asked 5 hours ago -
write a c++ program that computes the L^1 - Norm of a given
vector (L^1 norm...
asked 5 hours ago -
A manufacturer of banana chips would like to know whether its
bag filling machine works correctly...
asked 5 hours ago -
Complete the chapter case, "Turnover Analysis".
Chapter Case
Turnover Analysis
You recently completed your company’s new...
asked 5 hours ago -
What is the pH of solutions having the following H3O+
concentrations? Identify each as acidic, basic,...
asked 5 hours ago