The Salaries Payable account of James Bay Company Limited appears below: The company records the salary expense

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The Salaries Payable account of James Bay Company Limited appears below:

The company records the salary expense and related liability at the end of each week and pays the employees on the last Friday of the month.

Required

1. What was the salary expense for 2023?

2. How much was paid to employees in 2023 for work done in 2022?

3. How much was paid to employees in 2023 for work done in 2023?

4. How much will be paid to employees in 2024 for work done in 2023?

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Fundamental Accounting Principles Volume 1

ISBN: 9781260881325

17th Canadian Edition

Authors: Kermit D. Larson, Heidi Dieckmann, John Harris

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Question Posted: Aug 11, 2023 09:55 AM

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The Salaries Payable account of James Bay Company Limited appears below: The company records the salary expense

Question:

Entries during 2023 Salaries Payable 22,520 398,120 388,400 Bal. Jan. 1, 2023 Entries during 2023

Step by Step Answer:

1 388400 2 22520 3 ...View the full answer

Fundamental Accounting Principles Volume 1

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