Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Jan 2 Received Memo Sal - Rev from the owner to reverse the December 3 1 s t payroll accrual in amount of $ 1
Jan Received "Memo SalRev" from the owner to reverse the December payroll accrual in amount of $ for all employees. The total accrual for wages and salaries was accrued Salaries Expense at Dec
Jan Process a payroll cheque run for ALL pay periods
Note: AYOUR ACTUAL LAST, First Name worked hours hours overtime, and Valerie Kott worked hours and earned $ in commissions.
Jan Valerie Kott phoned this morning requesting one week off for personal reasons and asked for her vacation pay. Released total vacation pay owing hours as of January Did not deduct for medical plan or union dues.
EMPLOYEES & PAYROLL Module Setup and Processing
Jan Nonsalaried payroll for the week ending January is recorded as follows:
AYOUR ACTUAL LAST, First Name worked regular hours plus overtime hours. issued a cheque for the net pay.
Jan AYOUR ACTUAL LAST, First Name stopped by the payroll office today. It was confirmed there was an error with the Jan. paycheque, In addition to regular hours. First Name should have been paid for owertime hours. They returned the payroll cheque to the office. Prepare the necessary reversing and correcting entries. Use the approach presented in your textbock, Issue a replacement cheque next available cheque number for the correct amount to AYOUR ACTUAL LAST, First
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