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View Full Version : Prepare the adjusting entry required on May 31, assuming that June 1 falls on a Wedne


nikkichan
Oct 1, 2014, 07:39 PM
Kiddle Incorporated has a five-day workweek and pays salaries of $70,000 each Friday

pready
Oct 3, 2014, 09:26 AM
First you have to figure out the amount of your adjusting entry for 2 days. Mon and Fri. So take your salaries for a five day workweek times 2 days divided by 5 days equals your adjusting entry amount.

Your accounts will be Salaries Expense and Salaries Payable