At December 31, Magnum Auto Bodyshop owes an employee for four days of work that will not be paid until January 5th. The weekly rate of pay for a five-day workweek is $1250. The adjusting entry to record the accrued wages on December 31 will include A.debit to Salaries Payable for $1,250. B. debit to Salaries Expense for $1,000. C. debit to Salaries Expense for $1,250 D. debit to Salaries Payable for $1,000.
At December 31, Magnum Auto Bodyshop owes an employee for four days of work that will not be paid until January 5th. The weekly rate of pay for a five-day workweek is $1250. The adjusting entry to record the accrued wages on December 31 will include A.debit to Salaries Payable for $1,250. B. debit to Salaries Expense for $1,000. C. debit to Salaries Expense for $1,250 D. debit to Salaries Payable for $1,000.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter8: Payroll Accounting: Employee Earnings And Deductions
Section: Chapter Questions
Problem 1CP: Irina Company pays its employees weekly. The last pay period for 20-1 was on December 28. From...
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At December 31, Magnum Auto Bodyshop owes an employee for four days of work that will not be paid until January 5th. The weekly rate of pay for a five-day workweek is $1250. The
A.debit to Salaries Payable for $1,250.
B. debit to Salaries Expense for $1,000.
C. debit to Salaries Expense for $1,250
D. debit to Salaries Payable for $1,000.
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