Ask Experts Questions for FREE Help !
Ask
    Confused Student's Avatar
    Confused Student Posts: 7, Reputation: 1
    New Member
     
    #1

    Jun 25, 2006, 10:32 AM
    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?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #2

    Jun 25, 2006, 02:04 PM
    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

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Journal entry [ 10 Answers ]

If my company receives an inheritance and contributes 10,000 in cash to the business, how should I jounalize this?

Journal Entry for Redemption [ 1 Answers ]

Good afternoon all, Question: if a corporation retired $130,000 face value, 12% bonds on June 30,2005, at 102. The carrying value of the bonds at redemption date was $107,500. The bonds pay semiannual interest, and interest payment due on June 30,2005, has been made and recorded. could you...

Journal Entry help please! [ 1 Answers ]

-------------------------------------------------------------------------------- 1. Issued 10, 000 shares of capital stock in exchange for $150,000 cash 2. Purchased land and a building for a total price of $175,000. The land was assigned a value of $75,000, with the balance assigned to the...

Journal Entry 2 [ 4 Answers ]

Here's another one I would like you to please check for me. By the way, thank you for the first answer. The second question reads like this? On Nov 1, the company signed a contract, effective immediately, with Boone County Hospital to dry clean, for a fixed monthly charge of $200, the uniforms...

Journal entry [ 1 Answers ]

I need help making this journal entry. Made a down payment of 11,196.00 on 12/21/05 for liability insurance coverage from 1/1/06-1/1/07. Then making monthly payments of 5306.00 for 9 months. Do I treat this as a prepaid? Thanks! Let


View more questions Search