On January 9, a company pays $5,000 for salaries and wages of which $2,000 was reported...
On January 9, a company pays $5,000 for salaries and wages of which $2,000 was reported as Salaries and Wages Payable on December 31. Give the entry to record the payment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Homework Answers
| Date | Account Title | Debit | Credit |
| 09-Jan | Salaries
and Wages Payable |
$ 2,000 | |
| Salaries
and Wages Expense |
$ 3,000 | (5000 - 2000) | |
| Cash | $ 5,000 | ||
| (To record payment of salaries and wages) | |||
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(Credit account titles are automatically indented when
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(Credit account titles are automatically indented when
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Date
Account Titles and Explanation
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for the preceding 5-day week (Monday through Friday). Assume
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year.
Assume the company does not use reversing entries. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when Whispering Winds pays the payroll. (Credit account titles are automatically indented when amount is entered. Do...
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Type or paste question here
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