Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on friday of each week, prawn company pays its fac

On Friday of each week, Prawn Company pays its factory personnel weekly wages amounting to...

60.1K

Verified Solution

Question

Accounting

On Friday of each week, Prawn Company pays its factory personnel weekly wages amounting to $55,000 for a five-day work week.

Instructions:

1. Prepare the necessary adjusting entry at year end, assuming December 31 falls on Wednesday.

2. Prepare the journal entry for payment of the weeks wages on the payday which is Friday, January 2 of the next year.

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

In class what 3 things did we say that all increase as you go deeper...

Biology
Q

Problem 1. Consider the following table, which gives a security analysts expected return on two stocks...

Finance
Q

56 Which part of the nephron indicates the site where filtration takes place A A...

Biology
Q

The specific heat c of a solid at low shows temperature dependence according to the...

Physics
Q

nt 12 Numeric Algebraic s Triangles ip EY Given Type Centroid nter Orthocenter Triangle Angles...

Geometry
Q

Chest inches 26 45 54 49 35 41 41 a Construct a scatterplot b Compute...

Statistics
Q

Evaluate the following expressions.(a) log3 3^8 =(b) log3 243 =(c) log5 625 =(d) log4 4...

Algebra
Q

Approximately what range of heights can be reasonably reached from a 24-foot ladder (i.e., 24...

Algebra
Q

could you please make me a tabel with the information needed ...

Accounting
Q

How would each transaction affect the ROE ratio (use + for increase - for decrease...

Accounting
Q

Can you please show calculations ur Assignment i Saved Wolfson Corporation has decided to...

Finance
Q

Given the selected financial statement data for KR Enterprises presented below, calculate the debt-to-capital ratio,...

Finance