Answer:
Salaries Expense 23,000
Salaries Payable 23,000
Accrued salaries [($27,600 ÷ 6 days) × 5 days].
Showing posts with label Prospect Realty Co. Show all posts
Showing posts with label Prospect Realty Co. Show all posts
Sunday, 24 July 2016
Prospect Realty Co. pays weekly salaries of $27,600 on Monday for a six-day workweek ending the preceding Saturday
Prospect Realty Co. pays weekly salaries of $27,600 on Monday for a six-day workweek ending the preceding Saturday. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday.
Answer:
Salaries Expense 23,000
Salaries Payable 23,000
Accrued salaries [($27,600 ÷ 6 days) × 5 days].
Answer:
Salaries Expense 23,000
Salaries Payable 23,000
Accrued salaries [($27,600 ÷ 6 days) × 5 days].
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