A manufacturing company's payroll register shows the following inofrmation for December: Salary paid to marketing department, 40,000 (10 employees) Wages paid to labor, 100,000 Insurance is fully paid by the company, 10,000 per month Company has a policy to award a fully paid one week vacation for the best employee of the year from marketing department with a bonus of 1,500. Required: Assuming that current period has compeled, prepare all necessary journal entries to record payroll on December 31st.
A manufacturing company's payroll register shows the following inofrmation for December: Salary paid to marketing department, 40,000 (10 employees) Wages paid to labor, 100,000 Insurance is fully paid by the company, 10,000 per month Company has a policy to award a fully paid one week vacation for the best employee of the year from marketing department with a bonus of 1,500. Required: Assuming that current period has compeled, prepare all necessary journal entries to record payroll on December 31st.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A manufacturing company's payroll register shows the following inofrmation for December:
Salary paid to marketing department, 40,000 (10 employees)
Wages paid to labor, 100,000
Insurance is fully paid by the company, 10,000 per month
Company has a policy to award a fully paid one week vacation for the best employee of the year from marketing department with a bonus of 1,500.
Required: Assuming that current period has compeled, prepare all necessary
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