Question

Consider the following calendar:


Miller’s Department Store commenced business on September 1. It is open every day except Sunday. Its total payroll for all employees is $6,000 per day. Payments are made each Tuesday for the preceding week’s work through Saturday.
Using the balance sheet equation format (refer to page 147 for an example), analyze the financial impact on Miller’s of the following:
1. Disbursements for wages on September 8, 15, 22, and 29.
2. Adjustment for wages on September 30. Also prepare the journal entry required on September 30.


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  • CreatedFebruary 20, 2015
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