Purchase Solution

Wages accrued at the end of an accounting period

Not what you're looking for?

Ask Custom Question

Sage, INC. has 20 employees who earn $100 per day and are paid every Friday. The end of the accounting period is on a Wednesday. How much wages should the firm accrue at the end of the period?

Purchase this Solution
Solution Summary

This solution explains the journal entry to accrue wages, with the correct amounts provided, at the end of the period for Sage, Inc.

Purchase this Solution
Free BrainMass Quizzes
Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

View More Free Quizzes
Related BrainMass Solutions

  • Financial practice accounting multiple choice

    The balance in the Accrued Wages Payable account increased from $12,200 at the beginning of the month to $15,000 at the end of the month. Wages accrued during the month totaled $61,000. a. Wages paid during the month totaled $58,200. b.

  • This post addresses accounting practice questions.

    At the end of the current year, the accountant for Navistar Graphics forgot to make an adjusting entry to accrue Wages payable to the company's employees for the last week in December. The wages will be paid to the employees in January.

  • Financial statement ratios ROI ROE debit entry accruals

    The balance in the Accrued Wages Payable account increased from $12,200 at the beginning of the month to $15,000 at the end of the month. Wages accrued during the month totaled $61,000. a. Wages paid during the month totaled $58,200. b.

  • Effects of each transactions on the balance sheet equation

    Wages of $768 accrued at the end of the prior fiscal period were paid this fiscal period B. Real estate taxes of $2400 applicable to the current period have not been accrued C.

  • Debt Ratio for the Total Liabilities Divided by Total Assets

    The accounting cycle is the process by which companies produce their financial statements for a certain period of time. During the period 1. The accounting cycle starts with account balances at the beginning of the period. 2.

  • Expense accounts for accounting period

    1) False - Expenses are normally accrued at the end of the accounting period by a small business that follows the "accrual' method of accounting. 2) Two expense accounts that are usually accrued at the end of an accounting period may be Payroll Expense

  • Accounting Equation To Record Wages

    Use the accounting equation to record wages expense and wages payable at the end of February. Stone Company will pay their February wages and pay the payroll taxes to the government the first week in June.

  • Wages paid

    71242 Accounting The balance in the Accrued Wages Payable account increased from $12,200 at the beginning of the month to $15,000 at the end of the month. Wages accrued during the month totaled $61,000.

  • Adjusting and Reversing Entries

    (b) Indicate which of the adjusting entries may be reversed at the beginning of the next accounting period. a) 1 Prepaid insurance $4,950 Insurance expense $4,950 (Being, insurance premium of Policy 2 pertaining to period after

View More Related Solutions