Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Brunswick Corporation has a calendar year-end. Brunswick pays its workforce on Fridays for a five-day workweek ending on that day. The payroll for a week

Brunswick Corporation has a calendar year-end. Brunswick pays its workforce on Fridays for a five-day workweek ending on that day. The payroll for a week is $150,000. If December 31 falls on a Thursday, the adjusting journal entry the company needs to record will include a:
Group of answer choices
credit to Salaries and Wages Payable $60,000.
credit to Salaries and Wages Payable $120,000.
debit to Salaries and Wages Expense $30,000.
credit to Salaries and Wages Payable $75,000
debit to Salaries and Wages Expense $150,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Supply Chain Finance Solutions

Authors: Erik Hofmann, Oliver Belin

1st Edition

3642175651, 978-3642175657

More Books

Students also viewed these Finance questions