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ABC, an inexperienced accountant, thought that the overtime was due to the specifications of the customer well in fact it is due to its employees.
ABC, an inexperienced accountant, thought that the overtime was due to the specifications of the customer well in fact it is due to its employees. ABC made the following Journal Entry for the month of February: 1. Dr. Salaries Expense P14,000, Cr. Accrued Payroll P14,000; 2. Dr. Work in Process P8,000, Dr. Factory Overhead Control P2,800, Cr. Accrued Payroll P10,800. Employee B worked 50 hours per week. The company pays their employees at 50 per hour and 70 per hour for overtime. Prepare the Correcting Entries to be made by ABC
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