Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Finance & Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=411)
-   -   Journal Entry - (https://www.askmehelpdesk.com/showthread.php?t=28300)

  • Jun 25, 2006, 10:32 AM
    Confused Student
    Journal Entry -
    Question: Sales and delivery wages are paid on Saturday. The weekly payroll for Scotch Cleaners is $1,260. Novemebr 30 falls on a Thursday and the company has a six-day pay week.

    So do I Credit Wages Payable $210
    And Debit Wages expense $210?
  • Jun 25, 2006, 02:04 PM
    CaptainForest
    Dr. Wages Expense
    Cr. Wages Payable

    By how much? I don't know since the question is confusing.

    Pay Day is Sat
    Cut off is Thurs
    But it is only a 6 day week... which 6 days?? I am going to assume Sat is NOT included.

    Therefore,

    1,260 x 5 / 6 = 1,050


    Dr. Wages Expense 1,050
    Cr. Wages Payable 1,050

  • All times are GMT -7. The time now is 04:13 PM.