Pablo Management has two parttime employees each of whom ear

Pablo Management has two part-time employees, each of whom earns $110 per day They are normally paid on Fridays for work completed Monday through Friday of the same week. Assume that December 28, 2015, was a Friday, and that they were paid in full on that day. The next week, the two employees worked only four days because New Year\'s Day was an unpaid holiday. Prepare the adjusting entry that would be recorded on Monday, December 31, 2015 and Friday, January 4, 2016. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Wages expense 220 Wages payable 220 2 Wages payable Wages expense 2 220 1,100 Cash 1,320

Solution

Dec-31-15 Wages expense 220 =110*2      Wages payable 220 Jan-4-16 Wages payable 220 Wages expense 660 =110*2*3       Cash 880