Magnolia Tree Service Has a Weekly Payroll of $50,000

question 101

Essay

Magnolia Tree Service has a weekly payroll of $50,000.December 31,2016 falls on Thursday and Magnolia will pay its employees the following Monday (January 4,2017)for the previous full week.Assume that Magnolia has a five-day workweek and has an unadjusted balance in Salaries Expense of $845,000.Prepare the December 31,2016 adjusting entry.

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Definitions:

Secret Ballot Elections

A voting method in which voters' choices are anonymous, safeguarding the confidentiality of the voting process, often used in union representation elections and political elections.

Unionized Workers

Workers belonging to a labor union that advocates for their rights in discussions with employers.

Avoid Dealing

The practice of not engaging or communicating with certain parties or issues, often as a strategy to prevent conflict or because the topics are deemed unsolvable or too sensitive.

Norris-LaGuardia Act

A 1932 U.S. federal law that restricted employers' power to prevent unionization and limited the issuance of injunctions in labor disputes.