Adjustment for Wages On December 31, the trial balance shows wages expense of $1,200. An additional $400 of wages was earned by the employees, but has not yet been paid. Analyze this adjustment for wages using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.)

Q: rate. Hours worked Total Hours Reg. Rate Employee S M T Th F S Reg. O.T. Rectra, J. 7.5 8 10 9.25 7…

A: The regular wages of an employee is the direct labor cost and overtime wages are overhead cost.

Q: Create a time card for Bill Brown, employee number 145, for the pay period ending on August 31 (use…

A: B & C SPOTTING GOODS--TIME CARD B & C SPOTTING GOODS--TIME CARD Employee No 145 Name…

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: Marco Company shows the following costs for three jobs worked on in April. Balances on March 31…

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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: Calculate gross earnings for an hourly employee who is classified as a tipped employee. The employee…

A: Gross earnings refers to the total earnings or income an individual receives before any deductions…

Q: Alpha Corporation is in the business of leasing temporary warehouse space. On December 1, 20Y4.…

A: Unearned revenue is the amount of revenue that has been received by the company even before…

Q: Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2022.…

A: Answer:- Taxable income meaning:- Exemptions and refunds are subtracted from gross annual income to…

Q: During the month of January, an employer incurred the following payroll taxes: FICA Social Security…

A: Working notes: Payroll tax expense = FICA social security tax + FICA Medicare tax + FUTA taxes +…

Q: Assume that the payroll records of Blue Spruce Oil Company provided the following information for…

A: A payroll register is a document that keeps track of all the information related to employees' wages…

Q: Paid employees $430 on 12/23, of which $250 related to work done in November and $180 was for wages…

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of…

Q: December 31, Reuter Company has a balance of $98.75 in the FUTA taxes payable account.  This…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: December 31, 20, according to the Trial Balance, the Salaries Expense account has a balance of…

A: Salaries Expense of $62,800 has been paid. Amount of $1,075 is not paid but it is related to the…

Q: Create an adjusted general ledger for the following transactions

A: A journal is a book where all of a business's transactions are initially documented. Journalising is…

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: The form below shows the amounts that appear in the Earnings to Date column of the employees'…

A: 1a.

Q: An employee has total gross wages of $7,000, federal withholding of 15% and state withholding of 5%.…

A: Every Employer should pay the wages to its employees after deduction of Federal withholding, State…

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: Reviewing payroll records indicates that employee salaries that are due to be paid on January 3…

A: Payroll records are archives or documents that have anything to do with an employee's check. The…

Q: Journalize the following transactions. a. On December 1, a company received $11,700 for a service…

A: As per IFRS 15 Revenue from Contract with customers, the amount of cash received for services to be…

Q: Why is it necessary to make an adjustment if wages for work performed for the pay period Monday…

A: Adjustments in accounts means adjusting entries, these are those entires which are made in the…

Q: On December 31, 20-, Karmansky Company needed to record its accrued wages for year-end. If December…

A: Note: 1) Accrued wages is calculated on gross pay of 32,650 but not on net pay of $ 21330 2) Accrued…

Q: Flagg records adjusting entries at its December 31 year end. At December 31, employees had earned…

A: Lets understand the basics.Journal entry is required to make to record event and transaction that…

Q: Garn Corp. has six employees. Each earns $500 per week for a five day work week payable every…

A:

Q: Bonita Consulting Inc's gross salaries for the biweekly period ended August 24 were $15,000.…

A: Journal is the primary book where transactions are originally recorded. Further, a journal entry is…

Q: Wyco's fiscal Year ends September 30. On September 10, it's collects $30.000 for a painting job and…

A: JOURNAL ENTRIES  Journal Entry is the First stage of Accounting Process. Journal Entry is the…

Q: Alpine Company pays its employees time-and-a-half for hours worked in excess of 40 per week. The…

A: What is payroll? It is a register that shows the total amount to be paid to the employees during a…

Q: Bramble Consulting Inc's gross salaries for the biweekly period ended August 24 were $23,200.…

A: Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…

Q: There are 44 employees working for Segura Corporation. They are paid every second Monday for 10…

A: The journal entries are prepared to record the day to day transactions on regular basis. The…

Q: Geralt Company made an adjusting entry at its December 31 year-end for $800 of wages earned by…

A: The objective of the question is to prepare the reversing entry for Geralt Company on January 1,…

Q: Take me to the text An employer has calculated the following amounts for an employee during the last…

A: Payroll refers to the compensation that is paid to the employees. The payroll includes regular pay,…

Q: Assume that the payroll record of Riverbed Oil Company provided the following information for the…

A: Payroll Register, like Display Statistics in the accounting module, is a month-by-month transaction…

Q: Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income…

A: Answer: Balance Sheet : Assets 130 Inventory.                                      $ 0…

Q: Assume that the payroll records of Bramble Oil Company provided the following information for the…

A: The charges incurred by an employer for taxes on employee earnings and salaries are known as payroll…

Q: The Faber Company

A: 1]  Deductions are the amount of money that is part of the CTC package offered to an employee but is…

Q: The following adjusting entry for accrued wages was recorded on December 31:Dec. 31…

A: Reversing Entries: Reversing entries are made at the beginning of the accounting period when the…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.