Journal entry to record the payment

Assignment Help Accounting Basics
Reference no: EM13145539

A company has 20 employees who each earn $500 per week for a 5-day week that begins on Monday. December 31 of Year 1 is a Monday, and all 20 employees worked that day.

(a) Prepare the required adjusting journal entry to record accrued salaries on December 31, 2004.

(b) Prepare the journal entry to record the payment of salaries on January 4, 2005.

Reference no: EM13145539

Questions Cloud

What are southwest airline political company : What are Southwest Airline's Political, Economical, Social, Technical, Legal, and Environmental Issues currently facing the company?
What changes take place in neurotransmitter release : What changes take place in neurotransmitter release from the rods or cons when they are exposed to light?
What is their maximum joint revenue : Suppose that Kristen and Anna can sell all their wristbands for $1 each and all their pot holders for $5.50 each. If each of them worked 20 hours per week, how should they split their time between wristbands and pot holders? What is their maximum joi..
Explain how members of the chlorophyta appear : Explain how water moves through a plant (e.g., what causes it to move from the plant to the air, and from the soil to the plant, etc.). Contrast this with the way in which water moves in the phloem.
Journal entry to record the payment : (a) Prepare the required adjusting journal entry to record accrued salaries on December 31, 2004. (b) Prepare the journal entry to record the payment of salaries on January 4, 2005.
Is the student analysis correct : Is the student’s analysis correct? Illustrate your answer with a demand and supply graph. Based on Martin Peers, “Future Shock for Internet Ads?” Wall Street Journal, February 17, 2009.
Compute the temperature of an isothermal flash : calculate the temperature of an isothermal flash drum required to vaporize 40% of a liquid mixture of 60 mole% isopropanol and 40mole% n-butanol.
Emergency departement improvement evaluations : Emergency Departement Improvement Evaluations - students will help in sustainability measurements of ED quality improvements made at King Saud Medical City.
How many offspring are produced per female that year : let r=1.5 and d=0.5, where r and d are the growth and death rates of some semelparous species. If reproduction only occurs during year two, how many offspring are produced per female that year?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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