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-   -   Hired a secretary to be paid 1500 on the 20th day of each month. She works immediate (https://www.askmehelpdesk.com/showthread.php?t=407740)

  • Oct 19, 2009, 04:44 PM
    acct4dummy
    Hired a secretary to be paid 1500 on the 20th day of each month. She works immediate
    Help please
  • Oct 19, 2009, 04:52 PM
    tickle

    So, yes, and what do you want to know about it. She starts on the 20th, that is tomorrow. When she works a full month she gets her pay. Why is she being paid once a month ? Normal is once a week, so divide that by four. Is she having anything deducted from her pay, state taxes, employment insurance, etc. If you are hiring people you had better undersand the pay scale, deductions, etc.

    Where are you from ?

    Tick
  • Oct 19, 2009, 04:54 PM
    acct4dummy

    Am trying to do a journal entry, under what acc names would I put it?
  • Oct 19, 2009, 05:01 PM
    tickle

    Why didn't you say that originally. This website will explain, I hope:

    http://www.accountingcoach.com/onlin...e/20Xpg06.html
  • Oct 20, 2009, 01:59 AM
    morgaine300
    Quote:

    Why is she being paid once a month ? Normal is once a week, so divide that by four.
    First, it's not true that "normal" is once a week. I've been paid all sorts of different ways. I have two jobs and both pay semi-monthly. I've also been paid once a month and once a week and bi-weekly. This might depend on location, but we don't know where she's located.

    Second, you cannot take a monthly pay scale and divide by 4. There's never been 28 days in a month except for February, so that mathematically just doesn't work.

    Third, it's the homework help forum so it may not matter at all. It just is what the problem says it is. On the other hand, I'm a bit suspicious about it actually being homework.
  • Oct 20, 2009, 02:08 AM
    morgaine300

    The link tickle gave you does reasonably explain the entries, but when I tried the link it didn't work, so I'm going to try again:
    Payroll Journal Entries For Salaries | AccountingCoach.com

    There's more to payroll than just making the entries. Are you comfortable with figuring out the tax amounts, etc. Is this actually homework? Do you just need entries for the payroll itself or have to do adjusting entries? I just find it a bit odd for a homework problem to specify someone getting paid on the 20th of each month, and starting immediately.

    Something a little odd about the whole thing for being under homework help.

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