Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help solve for 1 and 2 Fighting Irish incorporated pays its employees $5,040 every two weeks ( $360/ day). The current two-week pay period

please help solve for 1 and 2
image text in transcribed
image text in transcribed
Fighting Irish incorporated pays its employees $5,040 every two weeks ( $360/ day). The current two-week pay period ends on December 28,2024 , and employees are paid $5,040. The next two-week pay period ends on January 11,2025 , and employees are paid $5,040. Required: 1. Record the adjusting entry on December 31,2024 2 Calculate the 2024 year-end adjusted balance of Salaries Payable (assuming the balance of Salaries Payable before adjustment in 2024 is 50 ). Complete this question by entering your answers in the tabs below. Record the adjusting entry on December 31,2024 . (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) Journal entry worksheet Record the adjusting entry for employee salaries on December 31. Note: Enter debits before credits. Fighting Irish Incorporated pays its employees $5,040 every two weeks ( $360/ day). The current two-week pay period ends on December 28,2024 , and employees are paid \$5,040. The next two-week pay period ends on January 11,2025 , and employees are paid $5,040. Required: 1. Record the adjusting entry on December 31,2024. 2 Calculate the 2024 year-end adjusted balance of Salaries Payable (assuming the balance of Salaries Payable before adjustment in 2024 is \$0): Complete this question by entering your answers in the tabs below. Calculate the 2024 year-end adjusted balance of Salaries Payable (assuming the balance of Salaries Payable before adjustment in 2024 is $0 )

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

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

Cost Determination A Conceptual Approach

Authors: Joel S. Demski

1st Edition

0813803608, 978-0813803609

More Books

Students also viewed these Accounting questions

Question

=+6 Both cats and dogs are to be tested. Should you block? Explain.

Answered: 1 week ago