Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 2: accrued wages: each week, on friday, we pay out

2: Accrued Wages: Each week, on Friday, we pay out the wages for our employees....

90.2K

Verified Solution

Question

Accounting

image
2: Accrued Wages: Each week, on Friday, we pay out the wages for our employees. On Friday, they will get paid $1,000. However, if the end of the accounting period ends on Monday, journalize the following two entries. You can omit the date and the descriptions. 1: Adjusting entry to account for the wages earned in the current month 2: Entry that would be made on Friday when the wages are actually paid out Monday Adjusting Entry: Friday Entry: I 3: On January1st, we purchased $5,000 worth of supplies for cash. At the end of January, we go and take a look at our supplies. We have $4,000 of supplies on hand. Journalize the entry on January 1s as well as the adjusting entry. You may omit the date and the descriptions. January 14 Adjusting Entry

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A teacher asks students to list the math lessons they learned on nine random school...

Statistics
Q

In a test of weight loss? programs, 160 subjects were divided such that 32 subjects followed...

Basic Math
Q

5. Draw an Activity-on-Arrow Diagram, identify project duration, slack for each activity, and project critical path...

Operations Management
Q

e g 4 The chair lift at Blue Mountain rises 40 m for every 100...

Basic Math
Q

Use the difference of cubes formula to factor. Be sure to factor out any common...

Basic Math
Q

Common test generators have the writer provide four possible answers. Then the test generator creates...

Basic Math
Q

) Alhamra Enterprises would like to start a new product line will cost $30k today....

Accounting
Q

Preparea 10-year lease amortization schedule (Round arswers to 0 decimal placis es 58,5%0) Lease Amortization...

Accounting
Q

Instructions: Designate the best answer for each of the following questions. 1. Given the following...

Accounting
Q

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as...

Accounting
Q

s Required information [The following information applies to the questions displayed below.) Clopack Company manufactures...

Accounting
Q

I need help with this accounting question asap. I will give good rating!!! ...

Accounting