What is the journal entry for the following? Employees work 5 days a week, and are paid 4500 dollars every other wednesday. Month ended on a thursday, employees were last paid 2 weeks ago.
What is the journal entry for the following? Employees work 5 days a week, and are paid 4500 dollars every other wednesday. Month ended on a thursday, employees were last paid 2 weeks ago.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the
Employees work 5 days a week, and are paid 4500 dollars every other wednesday. Month ended on a thursday, employees were last paid 2 weeks ago.
Expert Solution
Step 1
In order to record the journal entry it is important to analyse the transactions that have been taken place. the journal is considered to be the initial recording of the accounting because after the journal ledger is prepared and then from laser trial balance and balance sheet is prepared.so passing the journal entry it is important to be causes so that the whole accounting book gets the correct amount that is to be recorded and hance the correct result.
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