Answered

Get expert advice and community support on IDNLearn.com. Ask anything and receive well-informed answers from our community of experienced professionals.

Zoey Bella Corp. has a payroll of $7,960 for a five-day workweek. Its employees are paid each Friday for the five-day workweek. Required: Prepare the adjusting entry on December 31 assuming the year ends on Thursday. Refer to the Chart of Accounts for exact wording of account titles.

Sagot :

Abiolataiwo2015idn

Answer:

Dr Wages expense $6,368

Cr Wages payable $6,368

Explanation:

Preparation ofn the adjusting entry on December 31 assuming the year ends on Thursday

Based on the information adjusting entry on December 31 assuming the year ends on Thursday will be :

Dr Wages expense $6,368

Cr Wages payable $6,368

[($7,960/5 days)*4]

Your engagement is important to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Thank you for visiting IDNLearn.com. We’re here to provide clear and concise answers, so visit us again soon.