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March 03, 2026, 12:40:14 pm
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Author Topic: Compak 2008 help  (Read 1499 times)  Share 

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TyErd

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Compak 2008 help
« on: May 30, 2010, 04:33:15 pm »
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I am stumped on the question 2.8.1
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Akirus

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Re: Compak 2008 help
« Reply #1 on: May 30, 2010, 04:52:17 pm »
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None of you have bothered to post the paper, can't really help you out if I don't have the question.
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TyErd

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Re: Compak 2008 help
« Reply #2 on: May 30, 2010, 05:18:10 pm »
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it says: a business pays its wages on a monthly basis on the 15th day of each month. On the 15th July 2008 it makes a $1700 payment for wages to cover the period 16 June to 15 July 2008. Record payments in the appropriate ledger accounts.
Balance day was on 30June 2008
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"Don’t ever let somebody tell you you can’t do something, not even me.  Alright?  You got a dream, you gotta protect it.  People can’t do something themselves, they wanna tell you you can’t do it.  If you want something, go get it, period." - Chris Gardner

inspire

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Re: Compak 2008 help
« Reply #3 on: May 30, 2010, 05:19:54 pm »
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LOL i just did this sac
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2010: Accounting: 45 : Methods 47
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inspire

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Re: Compak 2008 help
« Reply #4 on: May 30, 2010, 05:21:59 pm »
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what i did was
CR: Bank 1700 (this is how much you paid)
Dr: Wages 900
Dr: Accrued Wages 800

not sure if it is right though.
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2010: Accounting: 45 : Methods 47
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Buharrr

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Re: Compak 2008 help
« Reply #5 on: May 30, 2010, 09:13:30 pm »
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yeh that seems right.
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inspire

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Re: Compak 2008 help
« Reply #6 on: May 30, 2010, 09:48:14 pm »
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hi carl :D
how much accounting have you done this weekend?
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2010: Accounting: 45 : Methods 47
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Aqualim

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Re: Compak 2008 help
« Reply #7 on: May 30, 2010, 10:46:24 pm »
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Quote from: inspire on May 30, 2010, 05:21:59 pm
what i did was
CR: Bank 1700 (this is how much you paid)
Dr: Wages 900
Dr: Accrued Wages 800

not sure if it is right though.

Why has the amounts for the Wages expense and Accrued Wages expense have different amounts if the days are evenly split (15 days till 30th of June and 15 days from the 30th of June to the 15th of July, the same goes for working days 11 days both sides)
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naved_s9994

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Re: Compak 2008 help
« Reply #8 on: May 30, 2010, 10:49:43 pm »
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Quote from: Aqualim on May 30, 2010, 10:46:24 pm
Quote from: inspire on May 30, 2010, 05:21:59 pm
what i did was
CR: Bank 1700 (this is how much you paid)
Dr: Wages 900
Dr: Accrued Wages 800

not sure if it is right though.

Why has the amounts for the Wages expense and Accrued Wages expense have different amounts if the days are evenly split (15 days till 30th of June and 15 days from the 30th of June to the 15th of July, the same goes for working days 11 days both sides)

THATS EXACTLY, what I was thinking :P
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inspire

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Re: Compak 2008 help
« Reply #9 on: May 30, 2010, 10:51:45 pm »
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wage increase or something? LOL
like depn expense doesnt have to be same as the accum depn cuz there could have been modifications etc?
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2010: Accounting: 45 : Methods 47
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Aqualim

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Re: Compak 2008 help
« Reply #10 on: May 30, 2010, 11:01:53 pm »
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wouldn't it be:
CR Bank 1700
DR Wages Expense 850
DR Accrued Wages Expense 850
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inspire

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Re: Compak 2008 help
« Reply #11 on: May 30, 2010, 11:04:17 pm »
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oh the he didn't tell you that in the cash flow statement there was accrued wages for $800
but if that wasn't there then your right with the $850
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2010: Accounting: 45 : Methods 47
2011: English 43 : Economics  47: Legal Studies 43: Chemistry 40: Specialist Maths 41 [99.55]
2012: Bachelor of Commerce Melbourne University, Economics Tutor
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