Question

A company pays its employees $9,100 every two weeks ($650/day). The current two- week pay period ends on December 26, 2018, and employees are paid $9,100. The next two-week pay period ends on January 9, 2019, and employees will be paid $9,100. Record the adjusting entry on December 31, 2018. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view general journal Journal Entry Worksheet 1. Record the adjusting entry on December 31, 2018. 2. General Journal Debit Credit Date December 31 2018 Enter debits before credits

Answer 1

Step-by-step explanation:

The adjusting entry is shown below:

On December 31,2018

Salaries and wages expense A/c Dr $3,250

To Salaries and wages payable A/c $3,250

(Being the salaries and wages expense is recorded)

The computation is shown below:

= Per day wages × number of days

= $650 × 5 days

= $3,250

The accrued salaries and wages are recorded for $3,250