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Karmansky

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6-11A On December 31, 2013, Karmansky Company needed to record its accrued wages for year-end. If December 31 is a Tuesday, then Karmansky Company must for two days of wages. The company operates on a five-day workweek, the prior week’s gross pay (December 26 payday) was $32,650, and the net pay was $21,330. Journalize the adjusting entry to be made on December 31 for the accrued wages.

6-12A Kelsey Gunn is the only employee of Arsenault Company. His pay rate is $23.00 per hour with an overtime rate of 11/2 times for hours worked over 40 in a workweek. For the week ending March 31, 2013 he worked 48 hours. Calculate his gross pay for the week using the overtime premium approach to calculate the overtime pay. Since the company holds back one week of pay, Gunn will not paid until April 7, 2013. What adjusting entry would the company make in order to record Gunn’s salary in the first quarter of this year?

a. Reguar pay
b. Overtime pay
c. Gross pay
d. Adjusting Entry

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