A company operates five days per week with a daily payroll of $6,000. Employees are paid every Friday. The last day of the accounting period is Thursday, October 31. What is the amount of Wage Expense to be recorded on the next payday, Friday, November 1?
| Click Here to View All Chapter 3 Problems at Once | View | ||
| 1 | Closing Journal Accounts | Easy | |
| 2 | Adjusting Entry Identification | Easy | |
| 3 | Current Assets | Easy | |
| 4 | Revenue Journal Entry | Easy | |
| 5 | Revenue Recognition | Easy | |
| 6 | Revenue Recognition | Easy | |
| 7 | Determining Net Income From Transactions | Moderate | |
| 8 | Revenue Recognition | Moderate | |
| 9 |
Adjusting Entry - Wage Expense
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Moderate | |
| 10 | Closing Process | Moderate | |
| 11 | Determining Net Income From Journal Entries | Moderate | |
| 12 | Adjusting Entry - Salaries Payable | Moderate | |
| 13 | Prepaid Rent | Moderate | |
| 14 | When You Forget to do Adjusting Entries | Hard | |
| 15 | The Effect of Transactions | Hard | |
| 16 | Account Classifications | Hard | |
| 17 | Revenue and Expense Recognition | Hard | |
| 18 | Adjusting Journal Entries | Hard | |
| 19 | Adjusting Journal Entries | Hard | |
| 20 | Year End Closing & Account Classification | Hard |
| 1 | Current Assets | 9:57 | |
| 2 | Non-Current Assets | 10:25 | |
| 3 | Current Liabilities | 6:24 | |
| 4 | Non-Current Liabilites | 2:00 | |
| 5 | The Classified Balance Sheet | 4:48 | |
| 6 | Cash vs. Accrual Accounting | 7:21 | |
| 7 | Expense Recognition | 8:07 | |
| 8 | Accruals and Deferrals | 15:07 | |
| 9 | What is an Adjusting Entry? | 4:11 | |
| 10 | Adjusting Entry: Supplies | 1:54 | |
| 11 | Adjusting Entry: Wages | 4:52 | |
| 12 | Adjusting Entry: Unearned Revenue | 2:11 | |
| 13 | Adjusting Entry: Interest | 2:03 | |
| 14 | Contra-accounts | 4:40 | |
| 15 | Depreciation | 7:10 | |
| 16 | The Closing Process | 10:37 |