What journal entry would be made on september for wages

Assignment Help Accounting Basics
Reference no: EM131822204

Problem

Cindy Lou makes $30,000 per year as an exempt employee. She worked 15 hours of overtime in the month of September. Payday for wages earned in the month of September is October 7. Ignoring Federal and State income tax withholdings, how much would she receive for September net of Social Security and Medicare taxes? What journal entry would be made on September 30 for wages owed to Cindy? What journal entry would be made when she is paid on October 7?

Reference no: EM131822204

Questions Cloud

What need is the new product trying to fill : What need is the new product trying to fill? Do you think it will meet that need?What type of innovation does the new product represent?
Evaluating the performance of a sales staff : Revenue Recognition and Evaluation of Sales Staff Revenue on an accrual-accounting basis must be both earned and realized (or realizable) before accountants.
Which of the four functions of management be important : Which of the four functions of management do you believe to be most important?
Compression of single-wall corrugated shipping : The article "Compression of Single-Wall Corrugated Shipping Containers Using Fixed and Floating Text Platens" (Journal of Testing and Evaluation [1992]:
What journal entry would be made on september for wages : What journal entry would be made on September 30 for wages owed to Cindy? What journal entry would be made when she is paid on October 7?
Comparing three groups of college students : In the introduction to this chapter, we considered a study comparing three groups of college students (soccer athletes, nonsoccer athletes, and a control
What is the purpose of strategic planning : What is strategic planning? What is the purpose of strategic planning? Why is it necessary?
What is the meaning of the retained earnings : Sell the entire inventory for $850 cash. Prepare a balance sheet. Where is the retained earnings in terms of relationships within the balance sheet?
Do you think it makes a difference in the planning process : Do you think it is helpful for business owners who might have their mission/vision/goals in their "heads" to put those ideas on paper?

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