Adjusting entries for accrued salaries Paradise Realty Co. pays weekly salaries of $25,500 on Friday for a five- day workweek ending on that day. Journalize the necessary adjustingentry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday.

The payroll records of Jasper Co. provide the following data for the weekly pay period ended March 7 Employee Gross Pay Gross Pay To Date Income Taxes Medical Insurance Deduction Union Dues United Way A $500 $6,000 $100 $30 $15 $10 B 600 6,500 120 30 15 20 C 700 5,500 202 50 0 30 Assume CPP is 4.95 % and El is 1.66 %. 1) Prepare the general journal entry to accrue the payroll on March 7. 2) Prepare the general journal entry to record the payroll tax expense for March 7.

Accrued Vacation Pay A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year's vacation pay is $66,600. a. Journalize the adjusting entry required on January 31, the end of the first month of the current year, to record the accrued vacation pay. If an amount box does not require an entry, leave it blank.     fill in the blank df5780022f8e03d_2 fill in the blank df5780022f8e03d_3     fill in the blank df5780022f8e03d_5 fill in the blank df5780022f8e03d_6 b.  How is the vacation pay reported on the company's balance sheet?  , unless employees are allowed to accumulate their vacation pay for use in future years.     When is this amount removed from the company's balance sheet?

Assume that the payroll records of Bramble Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee T. King T. Binion N.Cole C. Hennesey Hours Worked Date 44 46 Nov. 30 40 Show Transcribed Text Nov. 30 42 Your answer is partially correct. Hourly Pay Rate $69 Salaries and Wages Expense FICA Taxes Payable Account Titles and Explanation Federal Income Taxes Payable Union Dues Payable Salaries and Wages Payable (To record weekly payroll) Payroll Tax Expense 34 FICA Taxes Payable 39 Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7,000 of each employee's annual earnings. 44 State Income Taxes Payable Federal Income Taxes Payable Federal Income Tax Prepare…

The following adjusting entry for accrued wages was recorded on December 31:Dec. 31              Wages Expense                 5,500                          Wages Payable                  5,500a. Journalize the reversing entry that would be made on January 1 of the next period.b. Assume that the first paid period of the following year ends on January 6 and that wages of $61,375 were paid. Journalize the entry to record the payment of the January 6 wages.c. Journalize the entry to record the payment of the January 6 wages assuming that a reversing entry was not made on January 1.d. What is wages expense for the period January 1–6?

Accrued Wages Skiles Company's weekly payroll amounts to $10,000 and payday is every Friday. Employees work five days per week, Monday through Friday. The appropriate journal entry was recorded at the end of the accounting period, Wednesday, August 31, 2022. Required: What journal entry is made on Friday, September 2, 2022? For those boxes in which no entry is required, leave the box blank.

Accrual calculation – insurance cost posting Let's assume the company must insure one of its buildings. The insurance company bills to the company $600 every six months (one bill in January, the next in July). The company received the January’s invoice on 15th Jan ‘19. The invoice is paid on 12th March ’19. Please book the followings: 1.) Post the January’s invoice 2.) Book the month-end adjustments from Jan – July 3.) Post the payment of the invoice...

Accrued Vacation Pay A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year’s vacation pay is $77,400. Journalize the adjusting entry required on January 31, the end of the first month of the current year, to record the accrued vacation pay. If an amount box does not require an entry, leave it blank.     fill in the blank db942400303a02e_2 fill in the blank db942400303a02e_3     fill in the blank db942400303a02e_5 fill in the blank db942400303a02e_6 b.  How is the vacation pay reported on the company's balance sheet?       When is this amount removed from the company's balance sheet?