Zeta Company has 12 workers who each earn $15 per hour and generally work a 40-hour workweek, although at times overtime work is required, for which workers are paid 1.5 times their regular hourly wage. Zeta pays wages in cash on Friday of each week for work performed that week. Zeta's Wages Expense ledger account for May is shown below. Account: Wages Expense Account Number 65 Balance Date Item Post. Ref. Dr. Cr. Dr. Cr. May 5 32 7,200 7,200 May 12 33 9,360 16,560 May 19 35 7,200 23,760 May 26 37 8,010 31,770 May 31 Adjusting 38 4,320 36,090 May 31 Closing 38 36,090 - - During the period May 27 through June 2, Zeta's workers worked a regular 40-hour week. 1. If Zeta Company uses reversing entries, journalize the entry made when payroll is paid in cash on June 2, assuming that appropriate reversing entry(ies) have been made at the beginning of June. You may omit posting references. If an amount box does not require an entry, leave it blank. Jun. 2 - Select - - Select - - Select - - Select - 2. If Zeta Company does not use reversing entries, journalize the entry made when payroll is paid in cash on June 2. You may omit posting references. If an amount box does not require an entry, leave it blank. Jun. 2 - Select - - Select - - Select - - Select - - Select - - Select -

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Zeta Company has 12 workers who each earn $15 per hour and generally work a 40-hour workweek, although at times overtime work is required, for which workers are paid 1.5 times their regular hourly wage. Zeta pays wages in cash on Friday of each week for work performed that week. Zeta's Wages Expense ledger account for May is shown below.

Account: Wages Expense Account Number 65
					Balance
Date	Item	Post. Ref.	Dr.	Cr.	Dr.	Cr.
May 5		32	7,200		7,200
May 12		33	9,360		16,560
May 19		35	7,200		23,760
May 26		37	8,010		31,770
May 31	Adjusting	38	4,320		36,090
May 31	Closing	38		36,090	-	-

During the period May 27 through June 2, Zeta's workers worked a regular 40-hour week.

1. If Zeta Company uses reversing entries, journalize the entry made when payroll is paid in cash on June 2, assuming that appropriate reversing entry(ies) have been made at the beginning of June. You may omit posting references. If an amount box does not require an entry, leave it blank.

Jun. 2

- Select -

2. If Zeta Company does not use reversing entries, journalize the entry made when payroll is paid in cash on June 2. You may omit posting references. If an amount box does not require an entry, leave it blank.

Jun. 2

- Select - - Select -

- Select - - Select -

- Select - - Select -

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