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4 November, 00:47

Merando Industries employs a five-day workweek and a September 30 year-end. Normal weekly wages amount to $36,000. If September 30 ends on a Wednesday, what is the appropriate journal entry at fiscal year-end?

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  1. 4 November, 02:27
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    Solution

    Number of working days = 5

    Wednesday = 3rd day

    Entry at fiscal year-end = Week wage * 3/5

    = 36000*3/5

    = 10800/5

    = $21,600

    The answer is %21,600.
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