Accrued Wages Employees earn $11,000 per day, work five days per week, Monday through Friday, and...
Accrued Wages Employees earn $11,000 per day, work five days per week, Monday through Friday, and get paid every Friday. The previous payday was Friday, January 25 and the accounting period ends on Wednesday, January 30. What is the ending balance in the wages payable account on January 30? $
Homework Answers
Solution:
Accounting period end on = Wednesady
Nos of day for which salary due = 3 days
Per day salary = $11,000
ending balance in the wages payable account on Jan 30 = $11,000 * 3 = $33,000
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Accrued Wages Employees earn $11,000 per day, work five days per
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