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grin007 [14]
3 years ago
8

DAC Company pays its employees every Friday. On January 2, 20--, the Company paid $6,000 for the 5 days beginning the previous M

onday, December 29. Prepare the adjusting entry on December 31. Omit explanations. If an amount box does not require, leave it blank.
Business
1 answer:
PSYCHO15rus [73]3 years ago
4 0

Answer:

December 31  Salaries & wages expense       3600 Dr

                             Salaries & wages Payable         3600 Cr

Explanation:

The pay week is of 5 days starting from Monday to Friday. The wage per day is,

wage per day = 6000 / 5  = $1200 per day

The adjusting entry is made based on the accrual or matching principle which follows that the expenses and revenue relating to a particular period should be matched and recorded in their respective periods.

Thus, the wage expense for 3 days ending 31 December will be recorded as wages expense on 31 december for 1200 * 3  = $3600

The credit against this entry will be wages payable as the wage will be paid on January 2.

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Based on the amount budgeted and the cost of sight seeing, kari has almost exactly enough left in her budget to see genoa.

<h3>Which city should Kari see?</h3>

Exchange rate is the rate at which one currency is exchanged for another currency. In ths question, 1 dollar is exchange for 0.6859 euros.

  • The first step is to convert the amount budgeted to Euros: 585 x 0.6859 =  401.25
  • Cost in Euro of seeing Naples : 0.6859 x 71.06 = £48.74
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To learn more about exchange rate, please check: brainly.com/question/13717814

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