Salaries

Related BrainMass Solutions

• Nathan Company: Prepare Reversing Entry

  The original entry made in Oct 31 is: DR: Salaries expense 1,400 CR: Salaries payable 1,400 Thus the reversing entry is: DR: Salaries payable 1,400 CR: Salaries expense 1,400 Thus the balance of the salaries payable and salaries

• Phoenix city workers earned $500,000 in salary during the ye

  Salaries earned = 500,000 General government salaries 200,000 Public safety salaries 200,000 Parks and rec salaries 100,000 Salaries payable 500,000 If the salaries payable balance was $15,000

• Adjusting entries: interest, revenue, salaries

  Salaries earned by employees of $900 have not been recorded. These would be salaries expense and salaries payable as it is not yet paid.

• Calcuating Net Pay After Various Deductions

  retirement savings 500 The entry to record the payment of net pay would include a a) debit to salaries payable for 13,000 b) debit to salaries payable for $8,925 c) Credit to salaries expense for $8,925 d) credit to salaries

• Accruing Salaries Expenses at Period End

  Entry:...........................debit...........credit Salaries expense..........................$3,660.00 Salaries payable...........................$3,660.00 The journal entry is given using daily salaries to get the amount.

• Adjusting entries

  Salaries earned by employees of $900 have not been recorded. Salaries earned are Salaries Expense and since these are not recorded means that these have not yet been paid and so will be recorded as Salaries Payable.

• Small cell phone manufacturing company: mean or median salaries

  The statistic most often used to describe company salaries is the median or the mean. For this company, does the mean give an accurate description of the salaries? Why or why not?

• Adjusting Entry for Accrued Salaries

  The solution explains the adjusting entry for Accrued Salaries.

• Adjusting entries

  Salaries Expense, debit, $4,250; Salaries Payable, credit, $4,250. D. Salary Expense, debit, $2,250; Salaries Payable, debit, $2,000; Cash, credit, $4,250. E None of the journal entries shown above.

• Journal entries to record salaries and wages plus payroll tax expense

  The solution prepares journal entries to record salaries and wages plus payroll tax expenses.