Question
Pablo Management has three part-time employees, each of whom earns $130 per day. They are normally paid on Fridays for work completed Monday through Friday
Pablo Management has three part-time employees, each of whom earns $130 per day. They are normally paid on Fridays for work completed Monday through Friday of the same week. Assume that December 28, 2015, was a Friday, and that they were paid in full on that day. The next week, the three employees worked only four days because New Years Day was an unpaid holiday. | ||||||||||||
Prepare the adjusting entry that would be recorded on Monday, December 31, 2015 and Friday, January 4, 2016.
1- Journal Entry Worksheet Record adjusting entry on Monday, December 31, 2015. Record payment of the employees' wages on Friday, January 4, 2016.
|
2
Record payment of the employees' wages on Friday, January 4, 2016.
| ||||||
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