Exercise 3-4 adjusting and paying accrued wages lo c1 p1

Assignment Help Accounting Basics
Reference no: EM13600924

Exercise 3-4 Adjusting and paying accrued wages L.O. C1 P1 Arton Management has nine part-time employees, each of whom earns $230 per day. They are normally paid on Fridays for work completed Monday through Friday of the same week. They were paid in full on Friday, December 28, 2009. The next week, the nine employees worked only four days because New Year's Day was an unpaid holiday. Show (a) the adjusting entry that would be recorded on Monday, December 31, 2009, and (b) the journal entry that would be made to record payment of the employees' wages on Friday, January 4, 2010.

Reference no: EM13600924

Questions Cloud

Flyer company sells a product in a competitive marketplace : flyer company sells a product in a competitive marketplace. market analysis indicates that their product would probably
Avey corporation had 275000 in invested assets sales of : avey corporation had 275000 in invested assets sales of 330000 income from operations amounting to 49500 and a desired
Top-quality stores inc owns a nationwider chain of : top-quality stores inc. owns a nationwider chain of supermarkets. the company is going to open another store soon and a
What would be the total fica amount for the er and ee if : 1. what is the fica-oasdi for the er amount based on this total earnings figure a 2864.10 b669.83 c3533.92 d856.83 2.
Exercise 3-4 adjusting and paying accrued wages lo c1 p1 : exercise 3-4 adjusting and paying accrued wages l.o. c1 p1 arton management has nine part-time employees each of whom
Assume that aerkion is a foreign subsidiary of a us : aerkion company starts 2013 with two assets cash of 19000 lcu local currency units and land that originally cost 70000
Prepare adjusting entries for the seven items described : accounts receivable -0-accumulated depreciation-equipment -0-equipment 7000interest payable -0-notes payable
On january 1st susan and roman formed a partnership called : on january 1st susan and roman formed a partnership called research consultants. each partner invested 50000 cash on
Prepare the journal entry to record the pension expense and : gordo company sponsors a defined benefit pension plan. the following information related to the pension plan is

Reviews

Write a Review

Accounting Basics Questions & Answers

  What amount would appear in the july selling

What is the budgeted factory labor costs for July? What amount would appear in the July selling, general, & administrative expense budget?

  In good form prepare a schedule showing all expenses

a company entered into a franchise agreement to operate a franchised location beginning on january 1 2014. the terms of

  Determining annual cost savings

He does remember that the machine has a projected life of 12 years. Based on these data, the annual cost savings are:

  Cindy age 40 and don age 39 cowen are married dons 17 year

cindy age 40 and don age 39 cowen are married. dons 17 year old son from a former marriage lives with them. they also

  Variance amount-variance percentage

What is the variance amount? What is the variance percentage? Is the variance favorable orunfavorable?

  Assume that a new product is developed and that it will

assume that a new product is developed and that it will cost 489 to manufacture. calculate the selling price that must

  Medical instruments produces a variety of electronic

medical instruments produces a variety of electronic medical devices. medical instruments uses a standard cost system

  How much should fishbone record as the cost of the machine

Cooper Corporation purchased a special tractor on December 31, 2012. The purchase agreement stipulated that Fishbone should pay $25,600 at the time of purchase and $7,700 at the end of each of the next 11 years. The tractor should be recorded on D..

  Determine the impact on income in year

Complete the following assignment. Submit your responses in MSWord as one document. Label each section clearly. If you choose to use an Excel spreadsheet for question 1, please copy and paste your spreadsheet into your Word document. For writt..

  Gorfin inc currently sells 15000 units a month for 50 each

gorfin inc. currently sells 15000 units a month for 50 each has variable costs of 20 per unit and fixed costs of

  Shelly computes that her total assets are 108800 her

shellys assets include money in the checking and savings accounts investments in stocks and mutual funds personal

  Standards and materiality

If the standards are set in a process that often results in compromise between different parties, do the qualities of accounting information provide much value? How?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd