Question

a company pays its two office employees each friday at the rate of $100 per day each for a five day week that begins on monday. if the monthly accounting period ends on tuesday and the employees worked both on monday and tuesday the month end adjusting entry ro record the salaries earned but unpaid is

Answer 1

SOLUTION:
		Caclulation of Salary Payable for the month End
		Salary Payable every day ($ 100 X 2 Employees)	$                         200
		No. of Days Expired in month ended ( Monday & Tuesday)	2 Days
		Total Salary Payable = ($ 200 X 2 Days)	$                         400
	Journal Entries
	Date	Account Title and explanation	Debit	Credit
	Month End	Salary Expenses	$                         400
		Salary Payable		$                      400
		(To Record the salary Expenses of month end)