Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cassie Caf is open each day of the year. The annual payroll for hourly employees is $182,500. The caf pays wages on a biweekly basis
Cassie Caf is open each day of the year. The annual payroll for hourly employees is $182,500. The caf pays wages on a biweekly basis on Friday for the pay period ending on Thursday. The last day of the month is on Wednesday. The last pay period ended on the prior Thursday
Required : 1. Determine the payroll accrual at the end of the month.
2. Prepare the journal entry to record the accrual
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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