Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Colmano Industries employs a five-day workweek and a September 30 year-end. Normal weekly wages amount to $35,000. If September 30 is a Wednesday, what is

image text in transcribed
Colmano Industries employs a five-day workweek and a September 30 year-end. Normal weekly wages amount to $35,000. If September 30 is a Wednesday, what is the appropriate journal entry on October 2, the next payday for Colmano? debit Salaries & Wages Expense, $21,000; debit Salaries & Wages Payable, $14,000, credit Cash, $35,000 debit Salaries and Wages Expense, $14,000; debit Salaries and Wages Payable, $21,000, credit Cash, $35,000 debit Salaries & Wages Expense. $21,000; Credit Cash $21,000 Odebit Salaries & Wages Payable, $14.000; credit Cash, $14,000

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_2

Step: 3

blur-text-image_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

ICSA Study Text In Management Accounting

Authors: Richard Lyall

4th Edition

186072308X, 978-1860723087

More Books

Students also viewed these Accounting questions

Question

Cite ways to reduce excess spending.

Answered: 1 week ago