Question
Dinos Pizza employs 10 workers in its plant. Each employee is paid $8 per hour and works 8 hours per day, Monday through Friday. Employees
Dinos Pizza employs 10 workers in its plant. Each employee is paid $8 per hour and works 8 hours per day, Monday through Friday. Employees are paid every Wednesday for the previous Monday through Friday workweek. The last payday was Wednesday, May 28.
1) Compute the dollar amount of the weekly payroll
2) What is the effect on the accounting equation of the adjusting entry required on Friday, May 30, the last day of Dinos Pizza fiscal period?
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
