FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pace's Hardware, a Corporation, pays its employees each Friday for a five-day total workweek. The payroll is $12,000 per week. If the end of the

Pace's Hardware, a Corporation, pays its employees each Friday for a five-day total workweek. The payroll is $12,000 per week. If the end of the accounting period occurs on a Wednesday, the adjusting entry to record Salaries Payable would include how much ?

Step by Step Solution

★★★★★

3.40 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

The adjusting entry to record Salaries Payable would include 12000 for t... 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

Step: 3

blur-text-image

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

Intermediate Accounting

Intermediate Accounting

Authors: James D. Stice, Earl K. Stice, Fred Skousen

17th Edition

032459237X, 978-0324592375

More Books

Students also viewed these Accounting questions

Question

★★★★★
The Hurst Corporation pays its employees every Friday for the five-day week just ended. On January 2, 2018, the company paid its employees $70,000 for the week beginning Monday, December 29. a....

Answered: 1 week ago

Question

★★★★★
The Pear Corporation pays its employees every 2 weeks. During the lookback period, in each pay period the total withholding and FICA tax (employees\' and employer\'s share) amounted to $750 How often...

Answered: 1 week ago

Question

★★★★★
The company pays its employees each Monday for the work performed during the preceding 5-day work week. Total payroll for one week is $25,000. December 31 fell on a Wednesday. (1) Make the journal...

Answered: 1 week ago

Question

★★★★★
Air Asia is pursuing a strategy to become a "retailer" of travel/tourism services, selling more than airline products. 1. What is the reason behind this? 2. the pros and cons? What are other similar...

Answered: 1 week ago

Question

★★★★★
For 2012, Blue Buffalo Company initiated a sales promotion campaign that included the expenditure of an additional $60,000 for advertising. At the end of the year, Tamara Wasnuk, the president, is...

Answered: 1 week ago

Question

★★★★★
Your friend is a graphic designer who started his own business. He asks you How do I record revenue and expenses correctly? Explain when to record revenue and expenses based on the accrual basis of...

Answered: 1 week ago

Question

★★★★★
Selection-maturation: Was differential selection a problem based on the biological or psychological characteristics of the sample?

Answered: 1 week ago

Question

★★★★★
Multiple Choice Questions 1. Which of the following combinations correctly describes the relationship between foreign currency transactions, exchange rate changes, and foreign exchange gains and...

Answered: 1 week ago

Question

★★★★★
A 57.1g piece of zinc (C_(sp) ) = ( 0.388(J)/(g)*\\\\deg C) , initially at 285.8\\\\deg C , is added to 155.3g of a liquid, initially at 22.1\\\\deg C , in an insulated container. The final...

Answered: 1 week ago

Question

★★★★★
Suppose that a manufacturer of a particular automotive part classifies each unit produced as either defective or non defective. Each hour 200 parts are randomly selected from a very large batch of...

Answered: 1 week ago

Question

★★★★★
EXERCISE ONE: Record the following transactions in the T-accounts provided (NEXT PAGE) for S & V Office Supply Company. 1) S & V purchased $500 worth of merchandise for cash. There were no shipping...

Answered: 1 week ago

Question

★★★★★
The weights of 5 squash (in pounds) are 10,17,17.5,18.5, and 19.5. The sample weights have a mean of = 16.5. The accepted population standard deviation for this type of squash is = 1.25. 1) What is...

Answered: 1 week ago

Question

★★★★★
2.2 The Ministry of Works and Transport approaches you and wants your professional advice regarding the Memorandum of Understanding on the Development and Management of the TransKalahari Corridor....

Answered: 1 week ago

Question

★★★★★
A member tells you that she was recently hospitalized. She received a bill from a collection agency, even though she did not receive a bill from the hospital. She is worried this will affect her...

Answered: 1 week ago

Question

★★★★★
Boeing's recent results highlighted the case for the stock but perhaps not in the way many investors might think. In truth, they were mixed. However, Boeing's management has conservatively guided...

Answered: 1 week ago

Question

★★★★★
Two dietary drinks are used to supply protein, carbohydrates, and vitamin C. The first drink provides 2 units of protein, 5 units of carbohydrates, and 7 units of vitamin C in each liter. The second...

Answered: 1 week ago

Question

★★★★★
A passphrase typically differs from a password in that it is: Group of answer choices Only used in military applications Longer and can be a plain - language phrase Shorter and easier to guess The...

Answered: 1 week ago

Question

★★★★★
In July 2013, cnet.com listed the battery life (in hours) and luminous intensity (i. e., screen brightness, in cd/m2) for a sample of tablet computers. We want to know if screen brightness is...

Answered: 1 week ago

Question

★★★★★
Determine the amount of the periodic payments needed to pay off the following purchases. Payments are made at the end of the period. 1. Purchase of a waterbed for $1,205. Monthly payments are to be...

Answered: 1 week ago

Question

★★★★★
Briefly describe the structural changes that accompanied the renaming of the IASC to the IASB.

Answered: 1 week ago

Question

★★★★★
As payment for services rendered, the company received an 18-month note on January 1. The face amount of the note is $3,000, and the stated rate of interest is 9%, compounded annually. The 9% rate is...

Answered: 1 week ago

Question

★★★★★
Lois Long received $300 of merchandise from Blue Co. What would be the journal entry on the books of both the buyer and the seller?

Answered: 1 week ago

Question

★★★★★
From the following accounts (not in order), prepare a post-closing trial balance for Wey Co. on December 31, 2015.

Answered: 1 week ago

Question

★★★★★
Jeans Co. paid the cost of freight, $100. Journalize the transaction.

Answered: 1 week ago

Previous Question Next Question