Wages and salaries in March were $10,300, of which $8,600 was actually paid to employees. Account:...

Question

Question

Wages and salaries in March were $10,300, of which $8,600 was actually paid to employees. Account: Dollar amount: Dollar amou

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Wages a/c. Dr. $10300

To. Cash. $8600

To . Wages payable . $1700

( Wages is expense, it is shown in profit and loss account. Wages payable is liability and shown in balance sheet, liability side under current liabilities)

Add a comment

Answer 2

Similar Homework Help Questions

Transaction 6 Wages and salaries in March were $11,200, of which $8,200 was actually paid to...

Transaction 6 Wages and salaries in March were $11,200, of which $8,200 was actually paid to employees. Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount: Account: Dollar amount: Submit Ang
Transaction 5 Sales were $80,000. Cost of merchandise sold was 70% of sales. 40% of sales...

Transaction 5 Sales were $80,000. Cost of merchandise sold was 70% of sales. 40% of sales were for cash. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained Earnings Leave Blank Dollar amount: Account: Cash Accounts Receivable Inventory Prepaid Rent Fixtures and Equipment Accounts Payable Interest Payable Wages Payable Notes Payable Paid-in Capital Retained...
The company quickly acquired $35,000 in inventory, 30% of which was acquired on open accounts that...

The company quickly acquired $35,000 in inventory, 30% of which was acquired on open accounts that were payable after 30 days. The rest was paid for in cash. Account: Cash Accounts, Receivable Inventory, Prepaid Rent Fixtures and Equipment, Accounts Payable, Interest Payable, Wages Payable, Notes Payable, Paid-in Capital, Retained Earnings, Leave Blank Dollar amount: Account: Cash Accounts, Receivable Inventory, Prepaid Rent Fixtures and Equipment, Accounts Payable, Interest Payable, Wages Payable, Notes Payable, Paid-in Capital, Retained Earnings, Leave Blank Dollar amount: Account: Cash Accounts,...

Three former college classmates have decided to pool a variety of work experiences by opening a...

Three former college classmates have decided to pool a variety of work experiences by opening a store near campus to sell wireless equipment to students. The business has been incorporated as University Wireless. Required: Several transactions occurred in March. Each is described separately in this folder. For each transaction, indicate the accounts that are affected, whether they increase or decrease, and the amount of the increase or decrease. Transaction 5 Sales were $80,000. Cost of merchandise sold was 70% of...
Account options: Cash, Accounts Receivable, Inventory, Prepaid Rent, Fixtures & Equipment, Accounts Payable, Interest Payable, Wages...

Account options: Cash, Accounts Receivable, Inventory, Prepaid Rent, Fixtures & Equipment, Accounts Payable, Interest Payable, Wages Payable, Notes Payable, Paid-in Capital, Retained Earning, or Leave Blank Transaction 4 The owners paid $4,000 for website advertising. They were able to get a good deal because one of the company's owners also owns stock in the website company. The owners also paid $6,000 for some advertising in local newspapers. (Note: Combine both transactions into one entry]. Account: Retained Earnings Dollar amount: 10000...
Three former college classmates decided to open a store near campus to sell wireless equipment to...

Three former college classmates decided to open a store near campus to sell wireless equipment to students. They created a public company, The Wire, and issued stock to interested investors. They plan on creating monthly financial statements. Required: Several transactions occurred in March. Each is described separately in this folder. For each transaction, indicate the accounts for The Wire that are affected, whether they increase or decrease, and the amount of the increase or decrease. YOU MUST FOLLOW THE INSTRUCTIONS...

Please tell me why I am wrong. I also try 10900,-8000,2900;-10900,8000,2900;10900,-8000,-2900. Transaction 6 Wages and salaries...

Please tell me why I am wrong. I also try 10900,-8000,2900;-10900,8000,2900;10900,-8000,-2900. Transaction 6 Wages and salaries in March were $10,900, of which $8,000 was actually paid to employees. Account: Retained Earnings Dollar amount: -10900 Account: Cash Dollar amount: -8000 Account: Wages Payable Dollar amount: 2900 Account: Leave Blank Dollar amount: Foil1-Leave%20Blank Account: Leave Blank Dollar amount: Foil1-Leave%20Blank
Three former college classmates decided to open a store near campus to sell wireless equipment to...

Three former college classmates decided to open a store near campus to sell wireless equipment to students. They created a public company, The Wire, and issued stock to interested investors. They plan on creating monthly financial statements. Required: Several transactions occurred in March. Each is described separately in this folder. For each transaction, indicate the accounts for The Wire that are affected, whether they increase or decrease, and the amount of the increase or decrease. YOU MUST FOLLOW THE INSTRUCTIONS...
1. Sheffield Enterprises’ payroll for the month of March, 2020 is shown below. Salaries and Wages...

1. Sheffield Enterprises’ payroll for the month of March, 2020 is shown below. Salaries and Wages for the month of March 2020 $ 214,000 Income Taxes withheld from employees 47,372 EI withheld from employees 1.66% CPP withheld from employees 4.95% Union dues withheld from employees 20,914 Prepare the journal entries for the employee and employer portion related to payroll costs. Also, prepare the journal entries to record the remittance of the March payroll deductions to the Receiver General for Canada...

What type of transaction and the dollar amount for that transaction? Transaction4 The owners paid $3,000...

What type of transaction and the dollar amount for that transaction? Transaction4 The owners paid $3,000 for website advertising. They were able to get a good deal because one of the company's owners also owns stock in the website company. The owners also paid $5,500 for some advertising in local newspapers. [Note: Combine both transactions into one entry]. Account: Dollar amount: Account: Dollar amount Dollar amount Account: Dollar amounts Account: Dollar amount: Account: Cash Submit Anst Accounts Receivable Inventory My...

Wages and salaries in March were $10,300, of which $8,600 was actually paid to employees. Account:...

Homework Answers

Add Answer to:
Wages and salaries in March were $10,300, of which $8,600 was actually paid to employees. Account:...

Post as a guest

Earn Coins

Transaction 6 Wages and salaries in March were $11,200, of which $8,200 was actually paid to...

Transaction 5 Sales were $80,000. Cost of merchandise sold was 70% of sales. 40% of sales...

The company quickly acquired $35,000 in inventory, 30% of which was acquired on open accounts that...

Three former college classmates have decided to pool a variety of work experiences by opening a...

Account options: Cash, Accounts Receivable, Inventory, Prepaid Rent, Fixtures & Equipment, Accounts Payable, Interest Payable, Wages...

Three former college classmates decided to open a store near campus to sell wireless equipment to...

Please tell me why I am wrong. I also try 10900,-8000,2900;-10900,8000,2900;10900,-8000,-2900. Transaction 6 Wages and salaries...

Three former college classmates decided to open a store near campus to sell wireless equipment to...

1. Sheffield Enterprises’ payroll for the month of March, 2020 is shown below. Salaries and Wages...

What type of transaction and the dollar amount for that transaction? Transaction4 The owners paid $3,000...

Wages and salaries in March were $10,300, of which $8,600 was actually paid to employees. Account:...

Homework Answers

Add Answer to: Wages and salaries in March were $10,300, of which $8,600 was actually paid to employees. Account:...

Post as a guest

Earn Coins

Add Answer to:
Wages and salaries in March were $10,300, of which $8,600 was actually paid to employees. Account:...