Pablo Management has three part-time employees, each of whom earns $140 per day.

Question

Pablo Management has three part-time employees, each of whom earns $140 per day. They are paid on Fridays fo work completed Monday through Friday of the same week. Near year-end, the three employees worked Mo December 31, and Wednesday through Friday, January 2, 3, and 4. New Year's Day. DJanuary 3 was an unpaid holiday 1 Prepare the year-end adjusting entry for wages expenses. 2. Prepare the journal entry to record payment of the employees' wages on Friday, January 4 Journal entry worksheet 2 Record adjusting entry on Monday, December 31. Journal r 31 Prev1 of 2 Next > earch

Explanation / Answer

1) Wages expense (140*3 for Dec 31, Monday) 420 Dec-31 Wages payable 420 2) Wages expense (140*3*3) 1260 Jan-04 Wages payable 420 Cash 1680 Note: It is presumed that the 1st entry has not been reversed at the beginning of the second year.

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.