A company’s weekly payroll is $300, paid on Fridays. If the last day of the month...
A company’s weekly payroll is $300, paid on Fridays. If the last day of the month falls on a Tuesday, the adjusting entry would be Question 6 options:
a) Salaries Expense 120 Salary payable 120. b) Salaries Expense 180 Salary payable 180. c) Salaries Payable 120 Salary Expense 120. d) Salaries Expense 120 Cash 120.
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A company’s weekly payroll is $300, paid on Fridays. If the last
day of the month...
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.
Assume that the weekly payroll of Off the Runway Boutique is $310. December 31, end of the year, falls on Tuesday, and...
Assume that the weekly payroll of Off the Runway Boutique is $310. December 31, end of the year, falls on Tuesday, and Off the Runway will pay its employee on Friday for the full week. What adjusting entry will Off the Runway make on Tuesday, December 31? (Use five days as a full workweek.) Date Accounts and Explanation Debit Credit A. Salaries Expense Salaries Payable 124 OB. ов. 310 Salaries Payable Salaries Expense 310 Salaries Expense Cash 124 OD. ||...
Section 3-ACCRUED EXPENSES (ACCRUED LIABILITIES) Your company has a 5-day workweek with a weekly payroll of...
Section 3-ACCRUED EXPENSES (ACCRUED LIABILITIES) Your company has a 5-day workweek with a weekly payroll of $20,000 distributed each Friday. If an accounting period ends on a Tuesday, the adjusting journal entry is: a Salary Expense 4,000 Salary Payable b. Salary Expense 8,000 Salary Payable 8,000 c. Accrued Salary 8,000 Salary Payable 8,000 d. Deferred Salary 4,000 Salary Payable 4,000 4,000 2. If a company receives a December electric bill for $1,000 and decides to pay it in January a....
133. A business pays bi-weekly salaries of $20.000 every other Friday for a ten-day period ending...
133. A business pays bi-weekly salaries of $20.000 every other Friday for a ten-day period ending on that day. The adjusting entry necessary at the end of the fiscal period ending ok the second Wednesday of the pay period, includes a 20000t 10 - 200 a. debit to Salary Expense of $8,000. c. credit to Salary Expense of $16,000 b. debit to Salaries Payable of $8,000 d. credit to Salaries Payable of $16,000 134. A business pays bi-weekly salaries of...
KTM Industries pays weekly salaries of $35,000 on Friday for a five-day week ending on that day.
KTM Industries pays weekly salaries of $35,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Wednesday is debit Salary Expense, $21,000; credit Salaries Payable, $21,000 debit Salaries Payable, $21,000; credit Cash, $21,000 debit Salary Expense, $14,000; credit Dividends. $14,000 debit Dividends. $14,000: credit Cash, $14,000
This Question: 1 pt 1 of 20 (14 complete) This Test: 20 pts possible Assume that...
This Question: 1 pt 1 of 20 (14 complete) This Test: 20 pts possible Assume that the weekly payroll of in the Woods Camping Supplies is $300. December 31, end of the year, falls on Tuesday, and in the Woods will pay its employee on Friday for the full week. What adjusting entry will in the Woods make on Tuesday, December 31? (Use five days as a full work week.) Date Accounts and Explanation Debit Credit OA 120 Salaries Expense...
why is 947000 right? Question 20 0/1 pts Anthony Delivery Service has a weekly payroll of...
why is 947000 right?
Question 20 0/1 pts Anthony Delivery Service has a weekly payroll of $30,000. December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6) for the previous full week. Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $935,000. What is the Decemwer 31 balance of Salaries Expense after adjusting entries are recorded and posted? $935,000 You Answered $965,000 $953.000 Correct Answer $947,000 Question...
Exercise#14-ACCRUED EXPENSES: Dune Corporation pays its employees $1,000 per Tive-day work week on Fridays. June 30...
Exercise#14-ACCRUED EXPENSES: Dune Corporation pays its employees $1,000 per Tive-day work week on Fridays. June 30 falls on a Thursday; financial statement will be prepared that day. Instructions: A. What is the adjusting entry for the accrual of salaries and wages for the last week of the month of June? B. What is the journal entry for the payment of salaries and wages on July 1?
Hugh Morris Company pays weekly wages of $13,500 every Friday for a five day week ending...
Hugh Morris Company pays weekly wages of $13,500 every Friday for a five day week ending on that day. If the last day of the year is on Tuesday, the adjusting entry to record the accrued wages is: Multiple Choice debit Wages Expense $8,100; credit Wages Payable $8,100 debit Wages Expense $5,400; credit Drawing $5,400 debit Wages Expense $5,400; credit Cash $5,400 debit Wages Expense $5,400; credit Wages Payable $5,400
Hickory Park Senior Center has a weekly payroll of $20,000. December 31 falls on Monday, and...
Hickory Park Senior Center has a weekly payroll of $20,000. December 31 falls on Monday, and Hickory Park Senior Center will pay its employees the following Monday (January 7) for the previous full week. Assume Hickory Park Senior Center has a five-day workweek and has an unadjusted balance in Salaries Expense of $530,000 Read the tequirements Requirement 1. Record the adjusting entry for accrued salaries on December 31. (Record debits first, then credits. Select the explanation on the last line...
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.
Assume that the weekly payroll of Off the Runway Boutique is $310. December 31, end of the year, falls on Tuesday, and Off the Runway will pay its employee on Friday for the full week. What adjusting entry will Off the Runway make on Tuesday, December 31? (Use five days as a full workweek.) Date Accounts and Explanation Debit Credit A. Salaries Expense Salaries Payable 124 OB. ов. 310 Salaries Payable Salaries Expense 310 Salaries Expense Cash 124 OD. ||...
Section 3-ACCRUED EXPENSES (ACCRUED LIABILITIES) Your company has a 5-day workweek with a weekly payroll of $20,000 distributed each Friday. If an accounting period ends on a Tuesday, the adjusting journal entry is: a Salary Expense 4,000 Salary Payable b. Salary Expense 8,000 Salary Payable 8,000 c. Accrued Salary 8,000 Salary Payable 8,000 d. Deferred Salary 4,000 Salary Payable 4,000 4,000 2. If a company receives a December electric bill for $1,000 and decides to pay it in January a....
133. A business pays bi-weekly salaries of $20.000 every other Friday for a ten-day period ending on that day. The adjusting entry necessary at the end of the fiscal period ending ok the second Wednesday of the pay period, includes a 20000t 10 - 200 a. debit to Salary Expense of $8,000. c. credit to Salary Expense of $16,000 b. debit to Salaries Payable of $8,000 d. credit to Salaries Payable of $16,000 134. A business pays bi-weekly salaries of...
This Question: 1 pt 1 of 20 (14 complete) This Test: 20 pts possible Assume that the weekly payroll of in the Woods Camping Supplies is $300. December 31, end of the year, falls on Tuesday, and in the Woods will pay its employee on Friday for the full week. What adjusting entry will in the Woods make on Tuesday, December 31? (Use five days as a full work week.) Date Accounts and Explanation Debit Credit OA 120 Salaries Expense...
why is 947000 right?
Question 20 0/1 pts Anthony Delivery Service has a weekly payroll of $30,000. December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6) for the previous full week. Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $935,000. What is the Decemwer 31 balance of Salaries Expense after adjusting entries are recorded and posted? $935,000 You Answered $965,000 $953.000 Correct Answer $947,000 Question...
Exercise#14-ACCRUED EXPENSES: Dune Corporation pays its employees $1,000 per Tive-day work week on Fridays. June 30 falls on a Thursday; financial statement will be prepared that day. Instructions: A. What is the adjusting entry for the accrual of salaries and wages for the last week of the month of June? B. What is the journal entry for the payment of salaries and wages on July 1?
Hickory Park Senior Center has a weekly payroll of $20,000. December 31 falls on Monday, and Hickory Park Senior Center will pay its employees the following Monday (January 7) for the previous full week. Assume Hickory Park Senior Center has a five-day workweek and has an unadjusted balance in Salaries Expense of $530,000 Read the tequirements Requirement 1. Record the adjusting entry for accrued salaries on December 31. (Record debits first, then credits. Select the explanation on the last line...
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