What is the amount of Wages Expense account

Assignment Help Accounting Basics
Reference no: EM132642643

Question - Employees have worked for the full year and have received total wages of $296,000 in cash. However, they must wait until the next payday to be paid for the last three days of the year they have worked. The amount owing is $9,500. Please answer the following four questions based on this information provided.

What is the balance/amount of Wages Expense account?

What is the balance/ amount of Accrued Wages account?

Reference no: EM132642643

Questions Cloud

Discuss the three different sales taxes : As an accounting assistant, Discuss the three different sales taxes that are charged for goods and services
Define how the illegal drug market operates : Using the link specify how the illegal drug market operates. Next, take a position on whether or not the current "war on drugs" initiatives are working.
What amount of goodwill was recorded in the acquisition : What amount of goodwill was recorded in the acquisition? Lucy's Company acquires Watervault, Inc., by issuing 40,000 shares of $1 par common stock
How the given expert assisted the jury and court process : Per the text, the need for expert testimony is based on the belief that experts have specialized knowledge that helps jurors understand the particulars.
What is the amount of Wages Expense account : Employees have worked for the full year and have received total wages of $296,000 in cash. What is the amount of Wages Expense account
How this fraud could have been prevented : How this fraud could have been prevented? List six (6) internal control measures that should have been taken to prevent this fraud
Would a mathematical error have changed what you see : The case used in the calculations from the blood splatter lab goes to court. You are called to give evidence on you findings from the blood spatter.
What are the advantages of a proactive approach : What are the advantages of a proactive approach to prison administration for: Administration. Remember to submit at least 3 well developed paragraphs.
Explain effect on the person consumption of cigarettes : Would the combined measures be likely to have any effect on the person's consumption of cigarettes? Why or why not?

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