Employees earned $3600 in salaries that will be paid next month. The salary expense unadjusted balance as of December 31st is $5,200. What is the adjustment type?
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- The unadjusted balance in Supplies was $930 at December 31, 2021. The unadjusted balance in Supplies Expense was $0 at December 31, 2021. A year-end count showed $110 of supplies on hand. Wages earned by employees during December 2021, unpaid and unrecorded at December 31, 2021, amounted to $4,500. The last paychecks were issued December 28; the next payments will be made on January 6, 2022. The unadjusted balance in Salaries and Wages Expense was $48,000 at December 31, 2021. A portion of the store's basement is now being rented for $1,180 per month to K. Frey. On November 1, 2021, the store collected six months' rent in advance from Frey in the amount of $7,080. It was credited in full to Deferred Revenue when collected. The unadjusted balance in Rent Revenue was $0 at December 31, 2021. The store purchased delivery equipment at the beginning of the year. The estimated depreciation for 2021 is $2,800, although none has been recorded yet. On December 31, 2021, the unadjusted balance…Accrued salaries at December 31 amounted to $31,560. Ignore related payroll liabilities. Salaries & Wages Expense- $549,033 What is the adjusting entry?Nix Company paid a premium of $420 for workers’ compensation insurance based on the estimated payroll as of the beginning of the year. Based on actual payroll as of the end of the year, the premium is only $400. Prepare the adjusting entry to reflect the overpayment of the insurance premium at the end of the year (December 31, 20--).
- The totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the adjustment for accrued wages for the following Monday, which is the end of the accounting period. The gross payroll for that day is $7,475.The totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the adjustment for accrued wages for the following Monday, which is the end of the accounting period. The gross payroll for that day is $7,475.The monthly and hourly wage schedule for the employees of Quirk, Inc., follows. No employees are due overtime pay. Compute the following for the last monthly pay of the year: a. The total wages of each part-time employee for December 2019. b. The OASDI and HI taxable wages for each employee. c. The FICA taxes withheld from each employees wages for December. d. Totals of columns. e. The employers FICA taxes for the month.
- The monthly and hourly wage schedule for the employees of Quincy, Inc., follows. No employees are due overtime pay. Compute the following for the last monthly pay of the year: a. The total wages of each part-time employee for December 2019. b. The OASDI and HI taxable wages for each employee. c. The FICA taxes withheld from each employees wages for December. d. Totals of columns. e. The employers FICA taxes for the month.Based on the information in the screenshot below, Shaniya's gross compensation for the period will be - (Assume overtime is paid at time and a half.) Run Payroll: Twice a month Pay from Cheding Pay period Pay date Bale $10.000.00 EMPLOYEE PAY METHOD SALARY REGULAR PAY H.. OT HIS PDTIME OFF.. MEMO Mark Abe Paper check $55.000.00/year Morters, Shaniya Paper check AD CD 2.00 530.00/hour Select one: a. $1,290 O b. $1,200 O c. $1,320 d. $1,260 TOTAL PAY Customize table TOTAL HIS 42.00Refer to Exhibit 6-1. Journalize the adjustment for accrued wages for the following Monday, which is the end of the accounting period. The gross payroll for that day is $7,475.
- Oriole provides its employees two weeks of paid vacation per year. As of December 31, 70 employees have earned two weeks of vacation time to be taken the following year. If the average weekly salary for these employees is $920, what is the required journal entry to accrue compensated absences? Debit Salaries and Wages Payable for $128295 and credit Salaries and Wages Expense for $128295. No journal entry required. Debit Salaries and Wages Expense for $128800 and credit Salaries and Wages Payable for $128800. Debit Salaries and Wages Expense for $64400 and credit Salaries and Wages Payable for $64400.The unadjusted balance in Supplies was $800 at December 31, 2018. The unadjusted balance in Supplies Expense was $0 at December 31, 2018. A year-end count showed $120 of supplies on hand.Wages earned by employees during December 2018, unpaid and unrecorded at December 31, 2018, amounted to $3,200. The last paychecks were issued December 28; the next payments will be made on January 6, 2019. The unadjusted balance in Salaries and Wages Expense was $35,000 at December 31, 2018.A portion of the store’s basement is now being rented for $1,050 per month to K. Frey. On November 1, 2018, the store collected six months’ rent in advance from Frey in the amount of $6,300. It was credited in full to Deferred Revenue when collected. The unadjusted balance in Rent Revenue was $0 at December 31, 2018.The store purchased delivery equipment at the beginning of the year. The estimated depreciation for 2018 is $1,500, although none has been recorded yet.On December 31, 2018, the unadjusted balance in…The monthly and hourly wage schedule for the employees of Quirk, Inc., follows. No employees are due overtime pay. Round your answers to nearest cent. Compute the following for the last monthly pay of the year: a. The total wages of each part-time employee for December 20--.b. The OASDI and HI taxable wages for each employee.c. The FICA taxes withheld from each employee's wages for December.d. Totals of columns. (Totals should include both full-time and part-time employees.)e. The employer's FICA taxes for the month. Employees Total MonthlyPayroll OASDI TaxableWages OASDITax HI TaxableWages HI Tax Full-Time Office: Adaiar, Gene $1,415.00 $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Crup, Jason 1,300.00 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Essex, Joan 1,805.00 fill in the blank 9 fill in the blank 10 fill in the…
