Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Solve for 1&2 At December 31, your company owes employees for four days of the five-day workweek. The total payroll for the week is $25,000.

image text in transcribedSolve for 1&2
At December 31, your company owes employees for four days of the five-day workweek. The total payroll for the week is $25,000. What journal entry should you make at December 31? Nothing because you will pay the employees on Friday. Salaries and wages expense 20.000 Salaries and wages payable 20,000 Salaries and wages payable 20,000 Salaries and wages expense 20,000 Salaries and wages expense 25,000 Salaries and wages payable 25,000 Rudy's Fitness Gym has Unearned Revenue of $4, 200. Salaries Payable of $43,000, and Allowance for Uncollectible Accounts of $4, 600. What amount would Rudy's Gym report as total current liabilities? $4 7.200 $43,000 $51, 800 $47, 600

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

Smart Sexy Auditing Clerk

Authors: Funny Career Quotes

1st Edition

B08RRJ97CP, 979-8588903189

More Books

Students also viewed these Accounting questions

Question

Define a derivative instrument as per U.S. GAAP and as per IFRS.

Answered: 1 week ago