Per timecards, from the last payroll date through December 31, 2016, ABC\'s empl

Question

Per timecards, from the last payroll date through December 31, 2016, ABC's employees have worked a total of 200 hours. Including payroll taxes, ABC's wage expense averages about $20 per hour. The next payroll date is January 5, 2017. The liability for wages payable must be recorded as of 12/31/16. Per timecards, from the last payroll date through December 31, 2016, ABC's employees have worked a total of 200 hours. Including payroll taxes, ABC's wage expense averages about $20 per hour. The next payroll date is January 5, 2017. The liability for wages payable must be recorded as of 12/31/16.

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount No of hours worked since last payroll                  200.00 Wage expense per hour                     20.00 Total Wages due = 200*20               4,000.00 Entry would be Dr Cr Wages expense Dr               4,000.00 To Wages Payable        4,000.00

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