Create a time card for Bill Brown, employee number 145, for the pay period ending on August 31 (use the current year).Fill in the employee and pay period information.Calculate the regular and overtime hours worked for each day. Some are done for you.Calculate the total regular and overtime hours.Calculate the earnings for this pay period. Overtime is paid at one and a half times his regular rate. The image showing steps is an example. B & C SPORTING GOODS -- TIMECARDEmployee No.NamePay Period EndedMorning Afternoon Overtime HoursDATE IN OUT IN OUT IN OUT REG OT17-Aug 7:58 12:0118-Aug 7:58 11:59 1:05 5:06 5:28 7:5919-Aug 7:56 12:02 1:04 5:0220-Aug 7:58 12:00 12:56 4:59 5:28 8:5621-Aug 8:02 12:01 12:59 5:00 6:009:0224-Aug 8:00 11:59 1:00 5:0025-Aug 8:01 12:02 1:05 4:5926-Aug 7:58 12:00 1:04 5:0627-Aug 8:02 12:01 12:56 5:02 6:00 10:3028-Aug 8:00 11:59 12:59 4:59 6:00 8:3031-Aug 8:01 12:02 1:00 5:00HOURSREGULAROVERTIMETOTAL HOURSRATE$16.00TOTALEARNINGS8 2.500 008800 00 00888 2.58AMOUNT DATE17-MayINEmployee No. 23Name Doug RogersPay Period Ended May 31, 20xxMorningAfternoon7:56B & C SPORTING GOODS -- TIME CARDOUT12:01To calculate the hours worked:Step 1departure time - arrival time = hours workedINStep 3hours worked = 4 hours + 4 hours = 8 hours1:02OUT4:5912:01 - 7:56 = 4:0500:05 minutes rounds down to O, so there are 4 hours worked in the a.m.Step 24:59 - 1:02 = 3:5700:57 minutes rounds up 1 hour, so there are 4 hours worked in the p.m.OvertimeINOUTREGHours8OT

B & C SPOTTING GOODS--TIME CARD B & C SPOTTING GOODS--TIME CARD Employee No 145 Name…

Create a time card for Bill Brown, employee number 145, for the pay period ending on August 31 (use the current year). Fill in the employee and pay period information. Calculate the regular and overtime hours worked for each day. Some are done for you. Calculate the total regular and overtime hours. Calculate the earnings for this pay period. Overtime is paid at one and a half times his regular rate. The image showing steps is an example.

Create a time card for Bill Brown, employee number 145, for the pay period ending on August 31 (use the current year). Fill in the employee and pay period information. Calculate the regular and overtime hours worked for each day. Some are done for you. Calculate the total regular and overtime hours. Calculate the earnings for this pay period. Overtime is paid at one and a half times his regular rate. The image showing steps is an example.

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

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

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

Chapter3: The Adjusting Process

Section: Chapter Questions

Problem 3.11EX: Adjusting entry for supplies The balance in the supplies account, before adjustment at the end of...

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Adjusting entries and adjusted trial balances Reece Financial Services Co., which specializes in appliance repair services, it owned and operated by Joni Reece. Reece Financial Services accounting clerk prepared the following unadjusted trial balance at July 31, 20Y9: The data needed to determine year-end adjustment are as follows: Depreciation of building for the year, 6,400. Depreciation of equipment for the year, 2,800. Accrued salaries and wages at July 31, 900. Unexpired insurance at July 31, 1,500. Fees earned but unbilled on July 31, 10,200. Supplies on hand at July 31, 615. Rent unearned at July 31, 300. Instructions 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation ExpenseBuilding; Depreciation ExpenseEquipment; and Supplies Expense. 2. Determine the balances of tile accounts affected by the adjusting entries, and prepare an adjusted trial balance.
Income: 27,350 accounts, adjusting entries, financial statements, and closing entries; optional end-of-period spreadsheet The unadjusted trial balance of La Mesa Laundry at August 31, 20Y5, the end of the fiscal year, follows: The data needed to determine ear-end adjustments are as follows: (a) Wages accrued but not paid at August 31 are 2,200. (b) Depreciation of equipment during the year it 8,150 (c) Laundry supplies on hand at August 31 are 2,000. (d) Insurance premiums expired during the year are 5,300. Instructions 1. For each account listed in the unadjusted trial balance, enter the balance in a T account. Identify the balance as Aug. 51 Bal. In addition, add T accounts for Wages Payable. Depreciation Expense, Laundry Supplies Expense, and Insurance Expense. 2. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. Add the accounts listed in part (1) as needed. 3. Journalize and post the adjusting entries. Identify the adjustments by Adj. and the new balances as Adj. Bal. 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of stockholders equity, and a balance sheet. During the year ended August 51, 20Y5, common stock of 3,000 was issued. 6. Journalize and post the closing entries. Identify the closing entries by Clos. 7. Prepare a post-closing trial balance.
Page 2-35 Standards: TIME Morning Afternoon Overtime Hours DAY: IN OUT IN OUT IN OUT Worked Time is calculated from 8:00 AM to 12:00 PM Mon 7:50 AM 12:00 PM 12:50 PM 5:01 AM 1:00 PM to 5:00 PM; all other time is OT. Tues 7:56 AM 12:01 PM 12:49 PM 5:02 PM 5:30 PM 7:31 PM OT Rates: Wed 7:59 AM 12:02 PM 12:58 PM 5:03 PM Saturday: Time and one half Thurs 7:45 AM 12:00 PM 12:55 PM 5:00 PM 5:29 PM 8:02 PM Sunday: Double time Fri 8:01 AM 12:01 PM 1:00 PM 5:01 PM 6:00 PM 7:30 PM Pay Rate: $ 13.50 Sat 7:48 AM 12:02 PM Sun 2:00 PM 6:03 PM Total Weekly Hours: Calculate: Regular Earnings: OT Earnings @ time and 1/2 OT Earnings @ 2 times…
Directions: Review the timecard below and read the situation to the right of the timecard to answer (a) and (b). DAYS MORNINGS AFTERNOON OVERTIME DAILY TOTALS IN OUT IN OUT IN OUT (a) M 7:59 12:01 1:00 5:06 T 7:55 12:00 1:02 5:00 5:30 7:31 W 8:00 12:00 1:01 5:03 5:30 7:01 TH 7:58 12:03 1:01 5:00 5:30 8:00 F 8:00 12:00 1:00 5:00 5:30 8:01 SA 7:59 12:05 SU Stacey Owens gets paid overtime for all hours over 8 per day and on weekends. She does not earn pay for any time before 8am, after 12pm, before 1pm, or after 5pm and has a 1-hr lunch break from 12-1. Calculate the daily totals on the timecard. Stacy earns $16.25/her. Calculate her total gross earnings.
Journal adjusting entry for Office supplies on hand at 30 Sept is $6,050 incl. GST.
Step 5: Record the December adjusting entries on the “General Journal” tab. 31-Dec One month’s insurance has expired $90. 31-Dec The remaining inventory of unused office supplies is $90. 31-Dec The estimated depreciation on equipment is $70. 31-Dec Salaries incurred from December 29 to December 31 but not yet paid or recorded total $480. Step 6: Post all of the adjusting entries to the T-accounts on the “T-Accounts” tab. Compute the balance for each T-account after all of the adjusting entries have been posted. Step 7: Prepare the adjusted trial balance on the “Adjusted Trial Balance” tab. Check point 1: Adjusted trial balance total debit/credit = $ 33,770 1-Dec Issue common stock in exchange for cash of $7,500. 1-Dec Paid the premium in advance on a one-year insurance policy, $1,080.…
December 31, 20XX, according to the Trial Balance, the Office Supplies account has a balance of 2,100.00.Adjustment data reveals that 960.00 of office supplies are on hand at the end of the period.Journalize the adjusting entry.
December 31, 20XX, according to the Trial Balance, the Equipment account has a balance of 37,700.00.Adjustment data reveals that Depreciation Expense is 3,500.00. Journalize the adjusting entry.
Question 5 Blacktown Tyres has the following trial balance at 30 June 2019. Adjustments are required for : ► Unpaid Wages $600 ► Prepaid Insurance $200 ► Closing Inventory $28,000 ► Depreciation on Buildings $3,000 and on Vehicles $10,000 Complete the worksheet overleaf.
The opening balance of supplies is RO1200. On 1 March, the company purchased supplies for RO800 in cash. On 31 December 2014, the balance of supplies in the company is RO 550. The supplies expenses are Select one: a. 550 OMR b. The correct answer not available c. 450 OMR d. 1450 OMR
H3.C12 The Unadjusted Trial Balance for Hawkeye Ranges as of December 31 is presented in requirement 1. The following additional Information relates to the required year-end adjustments. a. As of December 31, employees had earned $1,296 of unpaid and unrecorded salarles. The next payday is January 4, at which time $2.307 of salaries will be pald. b. Cost of supples still available at December 31 total Is $3,904. c. An Interest payment is made every three months. The amount of unrecorded accrued interest at December 31 is $1,275. The next Interest payment, at an amount of $1,530, Is due on January 15. d. Analysis of Unearned Revenue shows $8,099 remaining unearned at December 31. e. Accrues $13,040 of revenue for services provided. Payment will be collected on January 31. 1. Depreciation expense is $18,409. Required: 1. Complete the six-column table by entering adjustments that reflect the above information. 2. Prepare Journal entries for adjustments entered in the six-column table for…
9.2 From the transaction(in image) you are required to : After completing the Unadjusted trial balance use the below information to prepare the Adjusted Trial Balance. d. Office supplies at the end of the month OMR 3500. e. The earned revenue not recorded at the end of the month OMR 2000.