p-pe-per-PERDISCO :( (1 Viewer)

[JayCakie]

Okay guys, I have a question with perdisco:

Paid sales staff wages of $12,838 for the week up to and including yesterday, Cheque No. 883. Note that $7,429 of this payment relates to the wages expense incurred during the last week of May.

How do I type this out?

I know this goes into the Cash Payments Journal.

So would this be:Cash Payments Journal

4th June | Wages Expense | Debit: | Credit: |

Wages Expense $12 838 | Other accounts $7 429 | Cash at Bank: $12 838 |

???

help anyone.

I am so screwed.
I tried to type it out as closely as I could in compared to the question that I have to do for perdisco.

 

[JayCakie]

Note*

Debit:
Wages expense
Other Accounts

Credit:
Cash at Bank

 

[JayCakie]

bump.

halp.

plz.

 

[JayCakie]

come on guize.

I need your halp, like nao.

I'm stuck.

 

[Shadowdude]

Get cheat sheets.

It's what I did.

/srs

 

[smik11]

I hate this piece of shit.

 

[Shadowdude]

Everyone does... everyone does.

Especially the end portions with the reconciliation and bullcrap like that.

 

[Trans4M]

Jaycakie I believe it would be

Cash Payment Journal
Dr Wage Expense 5409 Dr Other Account 7429 Cr Cash at Bank 12838

The reason it's not Dr Wage Expense 12838 is because it doesn't balance then. Furthermore 7429 has already been calculated as an expense before. Thereofre only 5409 was expense for this week.

 

[VIPPER]

Would it possibly be:

Dr. Wages Payable 7429
Dr. Wage Expense 5409
Cr. Bank 12838

p.s. wasn't the 7429 amount really an accrued expense(liability)?

 

[Bobbo1]

The cheat sheets are different to the ones we have now!

 

[kaz1]

The cheat sheets are different to the ones we have now!

you can look up the similar transactions and copy the method

 

[JayCakie]

Get cheat sheets.

It's what I did.

/srs

I did! It's different, but it got me at least this far.

 

[JayCakie]

Jaycakie I believe it would be

Cash Payment Journal
Dr Wage Expense 5409 Dr Other Account 7429 Cr Cash at Bank 12838

The reason it's not Dr Wage Expense 12838 is because it doesn't balance then. Furthermore 7429 has already been calculated as an expense before. Thereofre only 5409 was expense for this week.

You are officially my favourite BoSer! I will keep this in mind. I'm doing this Perdisco rubbish with my friend on Thursday. So yeah, most likely we're going to do this.

 

[JayCakie]

Would it possibly be:

Dr. Wages Payable 7429
Dr. Wage Expense 5409
Cr. Bank 12838

p.s. wasn't the 7429 amount really an accrued expense(liability)?

Also keeping this in mind too. Thank youuuuuu.

 

[Bobbo1]

my one is completely different to the cheat sheets :S

 

[Bobbo1]

Where do we find out the discount allowed? Is it always like 10% or something?

 

[JayCakie]

I'm not sure

I'm doing perdisco tomorrow at uni with my friend or maybe on Friday.

 

[d3st1nyLiang]

Where did you guys get these cheat sheets?

 

[HyperComplexxx]

cheat sheets where

 

[kaz1]

Where did you guys get these cheat sheets?

cheat sheets where

you get them from m8s, if you send me your email I'll send the ones I have over