Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 16, 2024

Burke. Bros pays its employees a total of $7500, every second Monday for week completed the two proceeding weeks. Employees work a five five day

Burke. Bros pays its employees a total of $7500, every second Monday for week completed the two proceeding weeks. Employees work a five five day week, Monday to Friday , and are paid for all statutory holidays. December 31, 2021, is a Friday. Employees were paid on Monday, December 20, 2021, and will be paid again on Tuesday, January 4, 2022.

prepare adjusting journal entries on December 31, 2021.

prepare the journal entries to record the related cash transactions in 2022.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

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

Step: 2

Step: 3

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

Managerial Accounting

Authors: Ray Garrison, Eric Noreen and Peter Brewer

14th edition

978-007811100, 78111005, 978-0078111006

Students also viewed these Accounting questions

Question

★★★★★

Explain the circumstances under which fair value hedge accounting should be used and when cash flow hedge accounting should be used.

Answered: 1 week ago

Question

★★★★★

What is the effect of pH on the separation of amino acids by electrophoresis? Why?

Answered: 1 week ago

Question

★★★★★

What evidence is there that the researcher developed the design to be responsive to the practical and cultural needs of specific subgroups on the basis of such dimensions as disability, culture,...

Answered: 1 week ago

Question

★★★★★

The Trust Department of First National Bank offers two types of service, Basic and Premier. Trust customers with basic service do not grant trust officers any discretion in managing their accounts....

Answered: 1 week ago

Question

★★★★★

You are a manager at Percolated Fiber, which is considering expanding its operations in synthetic fiber manufacturing. Your boss comes into your office, drops a consultant's report on your desk, and...

Answered: 1 week ago

Question

★★★★★

You have been hired by a new firm that is just being started: The CFO wants to finance with 60% debt, but the president thinks t would be better to hold the percentage of debt in the capital...

Answered: 1 week ago

Question

★★★★★

Your firm-has A/P with credit terms of 1/15, net 30. What is the annualized cost of skipping the discount on day 15 and paying the full invoice amount on day 30? 24.6% 37.2% 18.6% 8.1%

Answered: 1 week ago

Question

★★★★★

total monthly production costs are 10,000 on a lot of 250 units. you sell each unit for $150. If all 250 units sell each month, how would you calculate your annual profit

Answered: 1 week ago

Question

★★★★★

One way to determine the trend of a data set is to find ______________________. Question 36 options: a) percentage of non-overlapping data b) the split middle line of progress c) percentage of...

Answered: 1 week ago

Question

★★★★★

The annual salaries for 5 randomly selected people: Diana: $154,500 Clark: $76,000 Lois: $119,350 Bruce: $2,350,000,000 Barry: $68,000 Which would be the best measure of central tendency for this...

Answered: 1 week ago

Question

★★★★★

Your clients expect a 10% return on investment for podcast and a 15% ROI for TV ads. How would you calculate the expected profit for a client who invests $5500 on a podcast ad and $10,000 for a TV ad

Answered: 1 week ago

Question

★★★★★

P.24 deltamath.com a Solve the following system of equations graphically on the set of axes below. 1 y = 1+3 3x +y = -4 Plot two lines by clicking the graph. Click a line to delete it. 10 6 -10 -9 8...

Answered: 1 week ago

Previous Question Next Question