Employees were paid $10,000 on June 9, 2015 for five days work through Friday, June 3....
Employees were paid $10,000 on June 9, 2015 for five days work through Friday, June 3. What adjusting entry was necessary at the company’s year-end, Tuesday, May 31, 2015, as a result of this? (Choose answer below)
Debit Wages Expense and credit Wages Payable for $4,000.
Debit Wages Expense and credit Shareholders’ equity for $4,000.
Debit Wages Payable and credit Wages Expense for $4,000.
Debit Wages Expense and credit Cash for $10,000
Homework Answers
Correct answer-------------Debit Wages Expense and credit Wages Payable for $4,000..
.
Wages for 2 days that is Monday and Tuesday are accrued on 31 May 2015. Wages will be recorded as expense even though the payment for these two days will be made in june.
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Employees were paid $10,000 on June 9, 2015 for five days work
through Friday, June 3....
Employees at ta certain are paid on Friday, December 27 for the five days ending on...
Employees at ta certain are paid on Friday, December 27 for the five days ending on December 27. The next payday is Friday, January 3. Employees work 5 days a week. The weekly payroll amounts to $3,800. The appropriate adjusting journal entry on December 31 would be to credit Salaries and Wages Payable for $2,280. $3,800 $760 $630. $1,520.
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
Yellow's employees are paid in cash each Friday for that week's work and the cash payment...
Yellow's employees are paid in cash each Friday for that week's work and the cash payment of the payroll is recorded in the accounting system. The last payday of June was on Friday, June 27, 2020. The employees worked on Saturday June 28th, Sunday June 29th, and Monday June 30th On June 28 the employees earned $1,800. On June 29 the employees earned $1,600. On June 30 the employees earned $1,100. On June 1, 2020 the beginning balance in Yellow's...
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...
Stan Still Stationery Store's employees are paid every Friday for a five day work week and...
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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
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Required:
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Accrued Wages Employees earn $11,000 per day, work five days per week, Monday through Friday, and...
Accrued Wages Employees earn $11,000 per day, work five days per week, Monday through Friday, and get paid every Friday. The previous payday was Friday, January 25 and the accounting period ends on Wednesday, January 30. What is the ending balance in the wages payable account on January 30? $
Pablo Management has five employees, each of whom earns $250 per day. They are paid on...
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A company pays each of its two office employees each Friday at the rate of $140 per day for a five-day week that begins on Monday.
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Yellow's employees are paid in cash each Friday for that week's work and the cash payment of the payroll is recorded in the accounting system. The last payday of June was on Friday, June 27, 2020. The employees worked on Saturday June 28th, Sunday June 29th, and Monday June 30th On June 28 the employees earned $1,800. On June 29 the employees earned $1,600. On June 30 the employees earned $1,100. On June 1, 2020 the beginning balance in Yellow's...
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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
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1, and an entry to record the payment of salaries and wages on...
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