What journal entry is made on friday

Assignment Help Accounting Basics
Reference no: EM132479750

Accrued Wages

Skiles Company's weekly payroll amounts to $15,000, and payday is every Friday. Employees work 5 days per week, Monday through Friday. The appropriate journal entry was recorded at the end of the accounting period, Tuesday, December 31, 2019.

Required:

Question 1: What journal entry is made on Friday, January 3, 2020? If an amount box does not require an entry, leave it blank.

Jan. 3 Wages Payable                6,000

Wages Expense                         9,000

Cash                                      15,000

Reference no: EM132479750

Questions Cloud

Prepare a statement of revenues : Prepare A statement of revenues, expenditures, and changes in fund balance for the Ponce de Leon Fountain Endowment Fund for the year ended
Discuss how climate change can impact australia : Discuss how climate change can impact Australia's exports in general. Outline three things you think individual Australians can do to reduce the impact
Integrate critical thinking and judgment : Demonstrate effective verbal, written, and technological communication using legal and ethical standards for transferring knowledge using success resources
Effect of the higher minimum wage on the quantity : In the market for low-skilled workers, illustrate the effect of the higher minimum wage on the quantity of labour employed. Does the change in employment
What journal entry is made on friday : What journal entry is made on Friday, January 3, 2020? If an amount box does not require an entry, leave it blank.
The curious case of daraprim : In August 2015, Turing Pharmaceuticals raised the price of Daraprim from $13.30 a tablet to $750, an increase of 5,456 percent (Over and Silverman 2015).
Journalize the transactions for torrie corporation : Prepare the shareholders' equity section of the balance sheet. Torrie has a December 31 year-end. Journalize the transactions for Torrie Corporation.
Money instead of investing the money and earning : During a year of operation, a firm collects $550,000 in revenue and spends $200,000 on labor expense, raw materials, rent, and utilities.
Prepare income statement and statement of retained earnings : Determine and Prepare the income statement and statement of retained earnings for GlaxonSmith for the year ended December 31, 2021.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How does mental accounting impact consumer decision making

What is mental accounting and how does it impact consumer decision making? How might a company take advantage of consumers' mental accounting?

  Write report to joythi family on the financial performance

You are required to write a report to the Joythi family on the financial performance of Jayam Ltd. in 2016 and the financial position at year end

  Beacon inc has decided to expand its operations to owning

discuss the advantages and disadvantages of issuing preferred stock versus bonds.this weeks discussion focuses on

  The publication of the magazine every month

Both events, by recognizing a portion of the revenue with cash sale of the magazine subscription and a portion of the revenue with the publication of the magazine every month.

  If department h had 538 units 53 completed in process at

if department h had 538 units 53 completed in process at the beginning of the period 5588 units were completed during

  Compute gross income for the given year

Al is a medical doctor who conducts his practice as a sole proprietor. During 2016, he received cash of $493,800 for medical services.

  What is the total cost of the ending inventory

The firm uses the perpetual inventory system, and there are 14 units of the item on hand at the end of the year. What is the total cost of the ending inventory.

  Troy single purchased a home in hopkinton massachusetts on

troy single purchased a home in hopkinton massachusetts on april 6 2005 for 515500. he sold the home on october 6 2012

  Important for company management to monitor

What information does the cash flow statement provide that you cannot see in the other financial statements (income statement, balance sheet, owner's equity)? What elements of the cash flow statement do you think are most important for company man..

  Mcquary stone company produces bricks although the company

equivalent production fifo costing methodmcquary stone company produces bricks. although the company has been in

  The notes to the financial statements

The stockholders' equity section forApple Inc. is shows. Instructions for accessing and using the company"s complete annual report, including the notes to the financial statements, are also provided.

  What other factors should donna consider

Prepare a report showing the comparative payroll expense of continuing to employ permanent workers compared to adopting the Metcalfe Services Inc. plan.

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