Problem 7-6 Weekly Wage Payment Entries and theMonth-End Wages Payable Adjusting EntryBaker Construction, Inc. pays its employees each Friday for the work they performed that week.Baker's employees only workSunday. Baker produces monthly financial statements; thus they prepare adjusting entries at theMonday through Friday. They do not work on Saturday orend of each month.For the month of June, the last payday was on Friday June 25th. The last day of June was onWednesday June 30th. The first payday of July was on Friday July 2nd. The following partialcalendar shows these days and dates:-6age PayıSundayMondayTuesdayWednesdayThursdayFridayent 1 -- WSaturdayAccouJune 20June 21June 22June 23June 24Juņe 25June 26June 27June 28June 29June 30July 1July 2July 3The following table shows the amount the employees were paid on Friday June 25th and on FridayJuly 2nd. The table also shows the data required to calculate the amount the employees earnedfor the last three workdays of June.Wages paid on Friday, June 25thWages paid on Friday, July 2nd$6,200ent 2$5,950Data for June 28, 29, & 30 - the last three days worked in June:10 employees per day8 hours per dayunt eaNumber of employees working each dayHours each employee worked per dayHourly wage rateune 2$16 per hourneThe following is a partial list of the accounts in Baker's General Ledger. These are the onlyaccounts you need for this problem.Amount of theHow long thaD CashD Wages PayableD Wages Expense Problem 7-6Weekly Wage Payment Entries and the Month-End Wages Payable Adjusting EntryRequirement 1 -- Wage payment on Friday June 25thDateAccount NameDebitCredit6/25/xx30 InterestonbRequirement 2Total amount earned by the employees for:Monday June 28th + Tuesday June 29th + Wednesday June 30thRequirement 3 -- June 30 Wages Payable adjusting entryDateAccount NameDebitCredit6/30/xxRequirement 4 -- Wage payment on Friday July 2ndDateAccount NameDebitCredit7/02/xx

Wages refers to the form of payment that is used by an employer to allocate the desired amount of…

Baker Constructic Baker's employee Sunday. Baker pr end of each mont For the month of Wednesday June calendar shows th Sunday June 20 June 27 The following tabl July 2nd. The tab for the last three w Wa Wa Nur

Baker Constructic Baker's employee Sunday. Baker pr end of each mont For the month of Wednesday June calendar shows th Sunday June 20 June 27 The following tabl July 2nd. The tab for the last three w Wa Wa Nur

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 10.3APR: Wage and tax statement data on employer FICA tax Ehrlich Co. began business on January 2. Salaries...

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