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Tamarisk, Inc. employs a 5-day workweek and a September 30 year-end. Normal weekly wages amount to $33840. If September 30 ends on a Wednesday, what is the appropriate journal entry at fiscal year-end?

Respuesta :

Parrain

Answer:

Daily wages would therefore be;

= 33,840/5

= $‭6,768‬ per day

Week ends on wednesday which is 3 days into the week.

= ‭6,768‬ * 3

= $‭20,304‬

Journal Entry

Date                   Details                                                     Debit              Credit

September 30   Salaries and Wages Expense              $20,304

                           Salaries and Wages Payable                                      $20,304

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