Prepare journal entries to record the salary and wages expenses and the payment of liabilities (if any)
Prepare journal entries to record the salary and wages expenses and the payment of liabilities (if any)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question:
James Cook works as a cleaner at stock cruises company Limited. during a week, he worked for the following hours.
*Monday - 9 hours
*Tuesday - 8 hours
*Wednesday - 10 hours
*Thursday - 4 hours
*Friday - 8. 5 hours
*Saturday - 5 hours
*James hourly rate is $3.50
* He is entitled to 1 hour paid lunch every day.
*James normal working hours is 8 hours per day from Monday to Friday
*if he works for any hours more than that, he is entilted to receive overtime wages, that is, time and a half.
*Saturday and Thursday were a public holiday. Thus, James is entitled to receive double time wages.
*From the weekly wages of James, his deductions includes 6% contributions towards a superannuation of his choice, $10 to medical insurance, $8 to a union of his choice, and a direct deposit of $20 as bank loan.
reqiured: please answer this question by;;
a) Prepare journal entries to record the salary and wages expenses and the payment of liabilities (if any)
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