Metlock, Inc. employs a 5-day workweek and a September 30 year-end. Normal weekly wages amount to $40320. If September 30 ends on a Wednesday, what is the appropriate journal entry at fiscal year-end? Dr Salaries and Wages Expense $24192            Cr Salaries and Wages Payable $24192 Dr Salaries and Wages Expense $40320            Cr Salaries andWages Payable $40320 Dr Salaries and Wages Expense $24192            Cr Cash $24192 Dr Salaries and Expense $8064            Cr Salaries and Wages Payable $8064

Q: K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The…

A: Gross pay means the gross earnings of the entity. It is the amount without any deduction. Net pay is…

Q: Given the following data from the payroll register of Johnson Construction, prepare the journal…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: Gamma Company makes the following entry whenever it pays employee wages: Dr Wage Expense Cr Cash…

A: Accrual Accounting:This is an accounting method that records financial transactions when they occur,…

Q: McLoyd Company completed the salaries and wages payroll for March. The payroll provided the…

A: Payroll: It refers to a list of all the employees working in the business and the compensation that…

Q: Please fill out the payroll summary below  for Throwback Industries Inc. for the week ended December…

A: EmployeeTotal hoursRegular earnings ($)Overtime earnings ($)Aaron4668*40        2,7206*68*1.5…

Q: Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator.…

A: Payroll Calculations for Floatin Away CompanyConsultant:Regular earnings rate: $5,000 per week…

Q: Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator.…

A: Gross Pay and Net Pay: The amount of an employee's income that remains after payroll deductions for…

Q: he wages and hours information for five employees of Somja Enterprises for the week ended April 7 is…

A: The total earnings of an employee comprises of regular and overtime earnings the calculation of…

Q: K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The…

A: Social security tax is 6% Medicare tax is 1.5% Computer programmer worked 53 hours administrator…

Q: How many weeks of insurable earnings are required to be reported in Block 15C for employers with a…

A: Block 15c is concerned with the insurable earnings by pay period. The authorities require that…

Q: Sandhill Company has the following data for the weekly payroll ending January 31.. Employee L.…

A: Journal entryJournal entry records the accounting transactions of a business in a journal book. All…

Q: Floatin Away Company has three employees a consultant, a computer programmer, and an administrator.…

A: Gross Pay: The total amount of salary, wages, overtime, commission, bonus paid by the employer to…

Q: ssume that salaried employees of Mayer, Incorporated, earn 2 weeks of vacation per year. The…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: Broderick Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days…

A: a. Following are the journal entries:   Working Notes: Formulae used are shown below:

Q: Lendrum Servicing's four employees are paid every two weeks. Atkins runs the office and the…

A: Net pay refers to an amount that is to the employees of the company after deducting all the expenses…

Q: FDN Company paid employee wages on and through Friday, January 26, and the next payroll will be paid…

A: Wages expense per day = Total wages for a week / No. of working day in a week Accrued expense at the…

Q: Flagpole Enterprises distributes paychecks to employees every other week on Friday afternoon. These…

A: The correct answer is option - B) Biweekly  Explanation:-  A weekly payroll occurs once per week,…

Q: Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of…

A: Payroll- Payroll refers to the process of making payments to a company's employees. This process…

Q: Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator.…

A: Payroll is the method used to determine and pay employees for the job they have completed while…

Q: Jan 15. Paid the semi-monthly payroll, which totaled $8,000, to the firm's workers, all of which are…

A: Payroll:Payroll is the list of employees of the company that are entitled to receive pay and the…

Q: Jerri's Mason Supply Company has four employees who are paid on a weekly basis receiving time and a…

A: A record is often recorded in the main ledger; however, it may also be entered in a subsidiary…

Q: Sheffield Company began operations on January 2, 2019. It employs 10 individuals who work 8-hour…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Wise Company began operations on January 2, 2019. It employs  9 individuals who work 8-hour days and…

A: The question is based on the concept of Financial Accounting.

Q: Employees at a certain company are paid on Friday, December 28 for the five days ending on December…

A: Salaries & wages payable is that amount which is due to be paid but not paid. It is also called…

Q: Sandhill Company has the following data for the weekly payroll ending January 31. Employee L. Helton…

A: Journal entry records the accounting transactions of a business in a journal book. All the business…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Coronado Company began operations on January 2, 2025. It employs 12 individuals who work 8-hour days…

A: Journal entry records the accounting transactions of a business in a journal book. All the business…

Q: Take me to the text Sampson Hotel has three employees who are paid on an hourly basis, plus time and…

A: Payroll Accounting :— Payroll is the total of all the compensation that a business must pay to its…

Q: During the fourth quarter of 20--, there were seven biweekly paydays on Friday (October 4, 18;…

A: The due date for monthly deposit of payroll tax dues must be made by 15th Day of the month following…

Q: Employees at the Sheffield Waffle House were paid on Friday, December 27 for the five days ending on…

A: Accrual accounting records revenues and expenses when they are earned or incurred, not necessarily…

Q: Calculate the gross earnings per pay period (in $) for the given pay schedule. (Round your answers…

A:

Q: Cullumber Company has the following data for the weekly payroll ending January 31. Hours Employee M…

A: Journal entry records the accounting transactions of a business in a journal book. All the business…

Q: Larkspur Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days…

A: A journal entry is a type of accounting entry that is used to record a business transaction in a…

Q: 14) An employer has computed the following amounts for its employee Mary during a week in January:…

A: Given in the question: Gross Wages $500.00 FNPF  $80.00 LICI  $50.00 PAYE…

Q: Employee M L. Helton R. Kenseth D. Tavaras 8 8 9 Jan. 31 T 7:00 8 8 11 Hours W 10 8 8 T 8 8 8 F 10 8…

A: A journal entry is the initial record of a financial transaction that is recorded in the general…

Q: K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The…

A: The objective of the question is to calculate the gross pay and net pay for each of the three…