Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. exercise 3-7(algo) adjusting and paying accrued wa

Exercise 3-7(Algo) Adjusting and paying accrued wages LO P3 Pablo Management has four...

70.2K

Verified Solution

Question

Accounting

Exercise 3-7(Algo) Adjusting and paying accrued wages LO P3
Pablo Management has four employees, each of whom earns $85 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the four employees worked Monday, December 31, and Wednesday, Thursday, and Friday, January 2,3, and 4. New Year's Day (January 1) was an unpaid holiday.
Prepare the December 31 year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4.
Journal entry worksheet
1
2
Record the December 31 year-end adjusting entry for wages expense.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[December 31,,,],[,,,],[,,,],[,,,],[,,,]]
image

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What are the benefits of financial sensitivity analysis and how can we apply for firms long-term...

Finance
Q

How to assemble an Acceleration Response Spectra according to design code ASCE-7

Civil Engineering
Q

Below are some thermochemical data for the dissolution equilibrium of solid aluminum hydroxide in water: Al(OH)3(s) → Al3+(aq) + 3OH−(aq) ΔfH∘/kJ⋅mol−1 −1284 −538.4 −230.02 S∘/J⋅mol−1⋅K−1 85.4 −325 −10.9 Part A...

Chemistry
Q

Journals should be at least 250 words in length (lifespan psychology) 1. Describe the “biopsychosocial framework” (using...

Psychology
Q

Develop a C-code to calculate average, median and standard deviation, using 5 numbers as data you...

Basic Math
Q

Identify the following groups: (a) ?a, b: a4 = b2 = 1, bab = a3? (b) ?a, b...

Advance Math
Q

Give the classification of market based on 1. Kohls and Uhl 2. Huegy and Mitchel. List the...

General Management
Q

The total amount of money (in cents) in x nickels, (x + 3) dimes, and...

Basic Math
Q

what expenses allows a qualified taxpayer to exclude series ee bonds

Accounting
Q

General and administrative expense budget. Selling expense budget. Sales budget. \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ZIGBYMANUFACTURINGBudgetedBalanceSheetJune30} \\ \hline...

Accounting
Q

Rubber and steel company is planning to manufacture a new product. The variable manufacturing costs...

Accounting
Q

Information on four investment proposals is given below: Investment required Present value of cash inflows...

Accounting