What is the journal entry for the following? Employees work 5 days a week, and are paid 4500 dollars every other wednesday. Month ended on a thursday, employees were last paid 2 weeks ago.
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Employees work 5 days a week, and are paid 4500 dollars every other wednesday. Month ended on a thursday, employees were last paid 2 weeks ago.
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- Hi, the question I recieved for homework is "The company has two employees. The manager is paid on the 15th of every month and for work performed during the first hald of the month and on the 1st of the following month for work performed during the second half of the month. His monthly salary is $5,500 . THe other employee is paid $650 for each 5 day work week( Monday-Friday) . The last day of the month fell on a thursday . Prepare adjusting entries." Do I have to make adjusting entries for both the manager and the employee? If I do have to make adjusting entries for both what would it look like for the manager? We never went over making adjusting entries on a monthly basis in class . Thank you for your helpPerill Co. has a five-day workweek (Monday through Friday). Employees earn $650 per day. If the month ends on Wednesday, and wages will not be paid until Friday, how much wage expense should be accrued on Wednesday?An employee with an annual salary of $77278 is paid every month. What is the gross pay per pay period? Report your answer to two decimal places AND with correct units. Answer:
- The company has the following list of employees: a) Manager with daily salary of P1,000 b) 2 sales staff each receiving P2,850 a week c) Messenger with a daily rate of P420 d) Accounting staff with weekly salary of P3,000 The company policy is to pay its employees every Saturday after a 6-day work from Monday to Saturday. Supposed the last payday for the year 2020 falls on December 28, by what amount should be recorded as accrued salaries at December 31, 2020?Majan Company paid employee wages on Friday, March 25, and the next payroll will be paid in April. Employees work 5 days a week and the company pays $1.330 a week in wages. What will be the amount of accrue wages expense at the end of March?FDN Company paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There are three more working days in January (29-31). Employees work 5 days a week and the company pays P97,200 a day in wages. How much is the accrued wages expense at the end of January?
- Smee and CO (EIN 35-4444444) has 3 employees during the 4th quarter. Everyone is paid weekly. Katia earns $25/hour and David earns $32/hour. They work 40 hours per week for 13 weeks in the quarter (assume Dec. has the 5th week). Jeremy is salaried and will have a gross pay of $3,720 this pay period. Each employee has worked the entire year with no changes in pay or payroll deductions. The following federal withholdings are deducted each pay. Assume no state or county withholdings for this part of the problem. Katia $ 75 David $ 110 Jeremey $335 The following additional withholdings are deducted each pay 401K Medical Prem. Flexible Sp. United Way donation Child Support Katia David 0 75 55 35 0 95 105 75 0 Jermey 340 120 80 100 0 360 1. What is line 2 of Form 941 for QTR 4? 2. What is line 3 of Form 941 for the 4th quarter? 3. When determining line 5a column 1, how much Social Security taxable income did David earn? 4. When determining line 5a column 1, how much Social Security taxable…Percy Inc. has a calendar year-end. The following information is available regarding employee wages: • Its employees earn wages of $2,000 each day for their five-day workweek. Percy pays its employees $10,000 every Friday. • As of the end of Monday, Dec 31, its employees had worked a total of one (1) day for which they have not yet been paid. On January 4, the employees were paid a total of $10,000. Required: In the general journal below, prepare the adjusting entry needed on Dec 31, 20X1, and the regular journal entry to record wages paid on Jan 4, 20X2 Reminder: Do not use symbols, decimals, commas, or cents in your numerical responses. Date 12/31/X1 1/4/X2 Account Name: Wages Expense Wages Payable Wages Payable Wages Expense 4 Debit Credit ?Kurt Lopez began work this week for the Jaworski Company. Based on a 5-day workweek, his annual salary is $78,000, and he meets the test of an exempt white-collar employee. Since he started working on Tuesday, his first week's pay would be $1,200. $78,000/52 weeks = Gross pay $1,500 $1,500 × 4/5 = $1,200 Connie Duffy started working for Dexter Company on Thursday of this week. She worked 8 hours on Thursday and 9 hours on Friday. Her annual salary is $57,200, and she is an exempt white-collar employee. Determine her gross pay for her first partial week of work.
- Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks', nonvesting sick leave per annum. Past experience suggests that 56% of employees will take the full 2 weeks' sick leave and 22% will take 1 week's leave each year. The rest of the employees take no sick leave.Provide the journal entry necessary to recognise the sick-leave entitlement expense as it accrues each week.For the first week of May, Frank Taylor worked 33 hours. Frank earns $16.40 an hour. His employer pays overtime for all hours worked in excess of 40 hours per week and pays 1.5 times the hourly rate for overtime hours. Calculate the following for the first week of May (round your responses to the nearest cent if necessary): 1. Regular pay amount: $ 2. Overtime pay: $ 3. Gross pay: $An employer pays $3,000 a month for office space rental and $1,000 to 12 employees, plus a $10 bonus for each unit of work completed by the employee during the month. In addition, the employer has a profit of $18 per unit of work per employee. Suppose an employee completes 300 units in a month. Calculate your monthly payment.