Question 13 Not yet answered Flag question The month end for Carolina Company is June 30th. The company pays the weekly payroll on Friday of each week. Payroll records indicate the following salary costs: Monday Tuesday Wednesday Thursday Friday Date: June 28 June 29 June 30 July 1 July 2 Amount $3100 $3900 $2700 $3300 $2600 Make the journal entry for June 30th in the response template. Make another journal entry for payday on Friday, July 2nd.

Question 13 Not yet answered Flag question The month end for Carolina Company is June 30th. The company pays the weekly payroll on Friday of each week. Payroll records indicate the following salary costs: Monday Tuesday Wednesday Thursday Friday Date: June 28 June 29 June 30 July 1 July 2 Amount $3100 $3900 $2700 $3300 $2600 Make the journal entry for June 30th in the response template. Make another journal entry for payday on Friday, July 2nd.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter4: Income Measurement And Accrual Accounting

Section: Chapter Questions

Problem 4.15E: Wages Payable Denton Corporation employs 50 workers in its plant. Each employee is paid $10 per hour...

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Wages Payable Denton Corporation employs 50 workers in its plant. Each employee is paid $10 per hour and works seven hours per day, Monday through Friday. Employees are paid every Friday. The last payday was Friday, September 19. Required Compute the dollar amount of the weekly payroll. Prepare the journal entry on Friday, September 26, for the payment of the weekly payroll. Denton prepares monthly financial statements. Prepare the adjusting journal entry on Tuesday, September 30, the last day of the month. Prepare the journal entry on Friday, October 3, for the payment of the weekly payroll. Will net income for the month of September be understated or overstated if Denton doesnt bother with an adjusting entry on September 30? Explain your answer.
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Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii su mai y mauv uv . Exemption Status S Number of Hours Rate/Hour Regular Overtime 40 40 + Employe Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. Classification Direct Direct Direct Indirect 36 36 МЕ 45 40 4 МЕ-2 30 40 4. Indirect HF 30 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required • a) Determine the net pay for each employee. b) Prepare journal entries for: • recording the payroll. payment of the payroll. • distribution of the payroll. • the employer's payroll taxes.
How many weeks of insurable earnings are required to be reported in Block 15C for employers with a weekly pay frequency issuing paper Records of Employment? Select one: 12 24 27 53 k Time left 2:01:32 Next page
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ngageNOWv2 |Online teachir x b d21 mnsu - Bing E.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSes. o A company whose fiscal year ends December 31, has a weekly payroll of $100,000. Employees work 5 days per week, Monday through Friday and payday is every Friday. How much wages expense will be recorded on the Friday, January 3 payday? Oa. $60,000 Ob. $100,000 Oc. $40,000 Od. $0
Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii su mai y mauv uv .- Exemption Status S Number of Hours Classification Direct Direct Rate/Hour Regular Overtime Employee Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. P. 36 40 36 40 3 ME МЕ-2 HF - 4 45 40 Direct Indirect Indirect 30 40 30 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required a) Prepare journal entries for: • recording the payroll. > payment of the payroll. • distribution of the payroll. • the employer's payroll taxes.
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