Prepare the adjusting entry that would be recorded on monday

Assignment Help Accounting Basics
Reference no: EM131782710

Problem

Pablo Management has four part-time employees, each of whom earns $110 per day. They are normally paid on Fridays for work completed Monday through Friday of the same week. Assume that December 28, 2015, was a Friday, and that they were paid in full on that day. The next week, the four employees worked only four days because New Year's Day was an unpaid holiday.

Prepare the adjusting entry that would be recorded on Monday, December 31, 2015 and Friday, January 4, 2016.

Reference no: EM131782710

Questions Cloud

Determine its natural frequencies and mode shapes : Write the equations of motion for the system shown in Figure, and determine its natural frequencies and mode shapes.
Prepare vertical financial statements : prepare vertical financial statements, prepare horizontal financial statements using the oldest year as the base year
What is the cost formula for utility expense : Information about Indiana Industrial's utility cost for the last six months of 2010 follow. What is the cost formula for utility expense
Discuss the effects of transactions are first recorded : A record in which the effects of transactions are first recorded and from which transaction amounts are posted to the ledger is a(n)
Prepare the adjusting entry that would be recorded on monday : Prepare the adjusting entry that would be recorded on Monday, December 31, 2015 and Friday, January 4, 2016.
Prepare necessary journal entry to close overhead account : Prepare the necessary journal entry to close the overhead account if the balance is considered immaterial
Edgar and janet divide a profit : Edgar and Janet divide a profit of $15 700. If Janet is to receive $4200 more than one-fifths of Edgar's share, how much will Edgar receive?
Determine the natural frequencies and mode shapes : Choose coordinates x for the displacement of c and 6 clockwise for the rotation of the uniform bar shown in Figure, and determine the natural frequencies.
Discuss partial payment for the account receivable created : The company collected $1,625 cash as partial payment for the account receivable created in transaction

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