User Account

All Pages

What is the required journal entry to accrue compensated

Assignment Help Accounting Basics
Reference no: EM132619889

Question 1: Sheridan provides its employees two weeks of paid vacation per year. As of December 31, 65 employees have earned two weeks of vacation time to be taken the following year. If the average weekly salary for these employees is $980, what is the required journal entry to accrue compensated absences?

Debit Salaries and Wages Expense for $127400 and credit Salaries and Wages Payable for $127400.

No journal entry required.

Debit Salaries and Wages Expense for $63700 and credit Salaries and Wages Payable for $63700.

Debit Salaries and Wages Payable for $126895 and credit Salaries and Wages Expense for $126895.

Reference no: EM132619889

Questions Cloud

What would be a reason for the company to do so : What would be a reason for the company to do so? What areas of accounting and reporting could be compromised if this area is not properly managed?
Considered to be knowledge worker position : Are you a knowledge worker? Is your current job or a job you have worked at before considered to be a knowledge worker position?
What kinds of queries would be useful to woodcraft : What kinds of queries would be useful to Woodcraft, assuming that it wants to improve its sales, relationship with customers or other aspects of business?
What is the flow of orders for goods and services : What is the flow of orders for goods and services in mobile restaurant?
What is the required journal entry to accrue compensated : Sheridan, If the average weekly salary for these employees is $980, what is the required journal entry to accrue compensated absences?
What factors might explain the difference in the P-E ratios : Based on closing stock prices on March 17, 2019, What factors might explain the difference in the P/E ratios of these companies
Fascinating field of marketing : The topic for this is the fascinating field of marketing, which consists of the famous four P's: product, price, place, and promotion.
Solving a pressing problem-pain point : Create a customer interview guide so that the EcoWash partners can gather information to assess whether they are solving a pressing problem / pain point.
Compute the net proceeds to the presley corporation : Compute the net proceeds to the Presley Corporation. (Do not round intermediate calculations and round your answer to the nearest whole dollar.)

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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