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 payment of the employees' wages on Friday, January 4.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[January 04,2,,],[,,,],[,f,,],[,,,],[,,,],[,*,,]]
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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Civil Engineering
1.2K views

3. Give an example of a real component or structure in which fatigue is an important...

Physics
1.2K views

Question 7: Cosmology a. Write 2 – 3 sentences identifying and describing the most widely accepted scientific...

Geometry
1.2K views

9 1 747Oms Use a graphing utility to graph the function Include two full periods...

Algebra
1.2K views

63 Which of the following is a root of x 7x 4x 28 A 4...

Accounting
1.2K views

PlayTime Inc. manufactures parts for computers. The Trial Balance section of its worksheet and other...

Accounting
1.2K views

When a constraint line bounding a feasible region has the same slope as an isoprofit...

Accounting
1.2K views

Accounting
1.2K views

Brainerd Corporation adds all materials at the beginning of production. On August 1, 2019, 1,400...

Accounting
1.2K views

When standard costs are used in a cost accounting system: O Cost variances are shown...

Accounting
1.2K views

35. under absorption costing, which of the following statements is not true? A. variable inventory...

Finance
1.2K views

A firm wants to use a CALL option to hedge CAD 10 million in payable...

Accounting
1.2K views

A(n) _____ occurs when actual cost is less than standard cost. a.opportunity cost variance b.favorable...