Prepare the journal entry for payment of the salaries

Reference no: EM133655549

Question: The total weekly payroll for Winds Auto Repairs Ltd. is $4,300 ($860 per day). The payroll is paid every Saturday for employee salaries earned during the same five-day workweek (Monday through Friday, inclusive). Salaries were last paid on Saturday, September 25. This year the company's year end, September 30, falls on a Thursday. Salaries will be paid next on Saturday, October 2. (a) Prepare the journal entry for payment of the salaries on September 25. (List all debit entries before credit entries. Credit account titles are automatically intended when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Reference no: EM133655549

Questions Cloud

Regular monthly principal and interest payments : Regular monthly principal and interest payments regardless of balance amount No requirement to seek credit approval each time one needs credit Access

Cash availability to cover its interest payments : Cash availability to cover its interest payments while the standard interest coverage ratio focuses on the company's ability to generate profits to cover

What percent can the price of canola decline : what percent can the price of canola decline before Joe and Elise's capital replacement and term debt repayment margin goes to zero

What is ikeas global positioning statement for the brand : What is IKEA's global positioning statement for brand? How is this reflected for different countries? How successful do you think IKEA is in meeting their goal?

Prepare the journal entry for payment of the salaries : Prepare the journal entry for payment of the salaries on September 25. (List all debit entries before credit entries. Credit account titles are automatically

Name of the company and what product did they introduce : Name of the company and what product(s) did they introduce to the U.S. market? Did they make any modifications to the product?

Describe the concept of productive aging : Describe the concept of productive aging. What are ways that okder people can continue to play meaningful rolls in our society?

Calculate the federal income tax for the year : Calculate the federal income tax for the year ( options: $213,000/$264,180/$314,500/$253,640) and Estimate the effective rate (Te) of 34% federal tax and 6%

Prepare a production cost report for september : The degree of completion of work-in-process inventory at September 30 was as follows: Direct materials 100% Direct labor 60 Manufacturing overhead 50

User Account

All Pages