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Category > Accounting Posted 05 May 2017 My Price 10.00

The company pays its employees at the end of the day

The company pays its employees at the end of the day Friday for work done during that five-day workweek. Total wages for a week are $16,000. In the current year, December 31 occurred on a Tuesday.0
1. Make the adjusting entry necessary on the company’s books on December 31 with respect to unpaid employee wages.
2. Make the journal entry necessary on Friday, January 3, of the following year to record the cash payment of wages for the week. Ignore the New Year’s holiday season and assume that employees worked each of the five days. Note: When making this entry, don’t forget the adjusting entry that was made on December 31.

Answers

Alpha Geek
(8)
Status NEW Posted 05 May 2017 10:05 AM My Price 10.00

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Attachments

file 1493981731-240704_1_636294862127664419_payroll-Journal.xlsx preview (171 words )
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