Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the trial balance of abc corporation shows a balan

The trial balance of ABC Corporation shows a balance in payroll of $280,000. The last...

70.2K

Verified Solution

Question

Accounting

image

The trial balance of ABC Corporation shows a balance in payroll of $280,000. The last pay was December 22, 2020 and all employees were paid up to December 15th on this date. Employees are not paid for weekends but work 5 days a week - Monday through Friday. There are 5 plant employees who work 8 hours per day and are paid $30 per hour. No journal entry has been made to accrue any wages for these employees at the December 31 reporting date. No employees worked on December 25th or December 26th. Prepare the 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