A few days ago
I have an accounting problem that I need help with.?
Question:
May 16: Paid part-time receptionist for two-weeks’ salary including the amount owed on April 30, $750.
Answer:
Salary Expense $$$$
Salaries Payable $$$$
Cash $750
Fill in the $$$$. That is the only part of the answer I can’t figure out.
Top 2 Answers
A few days ago
Favorite Answer
It sounds like you are doing journal entries for the month of May.
If you have a trial balance, or a listing of account balances, check to see if there was a wages payable adjustment at the end of April. You will be able to tell by checking to see if there is a balance in wages payable.
If there is, debit that amount to wages payable to clear the payable account, and debit the remainder to wage expense.
These two amounts will add up to your cash credit for wage expense of 750.
I hope this helps.
0
A few days ago
Its the same amount you debit Salary and credit Salaries Payable for $750.
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