On dec 31 company needed to record its accrued wages for yr, Financial Accounting

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On dec 31 company needed to record its accrued wages for yr

On Dec 31, company needed to record its accrued wages for yr end. if dec 31 is a Wednesday, then company must account for three days of wages. the company operates on a five day work week, the prior week’s gross pay was 29,870 and the net pay was 19,995. Journalize the adjusting entry to be made on dec 31 for the accrued wages.

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Financial Accounting: On dec 31 company needed to record its accrued wages for yr

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Financial Accounting: On dec 31 company needed to record its accrued wages for yr

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