The Trial balance figure for Wages is $4,500. At the end of the accounting period the company owes $500 in Wages. What figures would appear in the final accounts? Answers; a) Wages expense $4,000, Accrued wages $ 500 b) Wages expense $5,000, Accrued wages $4,500 c) Wages expense $5,000, Accrued wages $500 d) Wages expense $4,500, Accrued wages $500

Specialty Manufacturing estimated that its total payroll for the coming year would be $482,500. The workers' compensation insurance premium rate is 0.2%. Required: 1.  Calculate the estimated workers' compensation insurance premium.$ Prepare the journal entry for the payment as of January 2, 20--. If an amount box does not require an entry, leave it blank. Page:     DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT   1 20-- Jan. 2           1 2             2 3             3 2.  Assume that Specialty Manufacturing's actual payroll for the year is $487,000. Calculate the total insurance premium owed.$ Prepare a journal entry as of December 31, 20--, to record the adjustment for the underpayment. The actual payment of the additional premium will take place in January of the next year. If an amount box does not require an entry, leave it blank. Page:     DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT   1 20-- Dec. 31           1 2…

A company's gross salaries amount to $5600 for the week ended April 6. The following amounts are deducted from the employees' wages: CPP of $300, El of $95, income tax of $2220, and health insurance of $475. In addition, the company accrues employer's payroll costs on the same day as it records payroll. Assume vacation days are accrued at an average rate of 4% of the gross payroll and that the health insurance is 100% funded by the employees. How much is the debit to Employee Benefits Expense? $1132 $657 $619 $870

Record the appropriate journal entry to reflect the following:At the end of the year, Veggies-R-Us, Inc. owed theiremployees $1,300 (total accrued salaries payable) to their otheremployees of the company for work performed during the yearjust ended.Currently Salaries/Wages payable has a balance of -0- in theaccount based upon the following partial Trail Balance of thecompany: Veggies-R-Us.Trial Balance (Partial)December 31, 20XXAccounts payable 6,240 CreditSalary payable -0- Credit

Dorman Company had the following items to report on its balance sheet: Employee advances $ 1,580 Amounts owed by customers for the sale of services (due in 30 days) 3,050 Refundable income taxes 1,120 Interest receivable 950 Accepted a formal instrument of credit for services (due in 18 months) 2,220 A loan to company president 10,000 Based on this information, what amount should appear in the "Other Receivables" category?

The totals from the first payroll of the year are shown below. TotalEarnings   FICAOASDI   FICAHI   FITW/H   StateTax   UnionDues   NetPay   $36,195.10   $2,244.10   $524.83   $6,515.00   $361.95   $500.00   $26,049.22       Journalize the adjustment for accrued wages for the following Monday, which is the end of the accounting period. The gross payroll for that day is $7,475.

An employee has a net payroll amount of $5,064.50. What is the correct journal entry to record this payment on payday? Debit Credit $5,064.50 Wages Expense Cash $5,064.50 Debit Credit Net Payroll Payable $5,064.50 Cash $5,064.50 Debit Credit Cash $5,064.50 Net Payroll Payable $5,064.50 Debit Credit Cash $5,064.50 Wages Expense $5,064.50 MacBook Air 41M&AINY PILOT G-2 07 30 F3 F4 F5 F6 F7 F8 F9 FI & 4 6 7 8 9. 5 R

Select all that apply Employees are paid $7,000 every two weeks. By the end of the accounting period, employees have earned salaries of $5,000, but they will not be paid until the following pay period. Which of the following is the proper entry to record the two weeks' salary payment following the end of the accounting period? Debit Salaries payable for $5.000. Debit Salaries expense for $7,000. Debit Salaries payable for $7,000 Debit Salaries expense for $2,000. Credit Cash for $7,000

Noura Company offers an annual bonus to employees (to be shared equally) if the company meets certain net income goals. Prepare the journal entry to record a $14,000 bonus owed (but not yet paid) to its workers at calendar year-end. View transaction list Journal entry worksheet < 1 Record the expected bonus costs. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Clear entry View general journal Record entry

On payday, Company A makes payment of ş 24,350 to its employees and record the following entry: General Journal Page Date Account Titles and Explanation Debit Credit