FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As at 1st January 2020 salary outstanding was $128,400. Though during the year ended 31st December 2020 $598,800 was paid as salary, as at 31st

image text in transcribed
As at 1st January 2020 salary outstanding was $128,400. Though during the year ended 31st December 2020 $598,800 was paid as salary, as at 31st December 2020 salary amounting to $142,900 remained unpaid. What is the salary expense to be written off in the Statement of income for the year ended 31st December 2020? Select one: a. 584300 b. 741700 6613300 d. 598800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting An Introduction

Financial Accounting An Introduction

Authors: Mr Barry Elliott, Mr Augustine Benedict

2nd Edition

0273737651, 9780273737650

More Books

Students also viewed these Accounting questions

Question

★★★★★
The spectral, hemispherical absorptivity of an opaque surface and the spectral distribution of radiation incident on the surface are depicted below. What is the total, hemispherical absorptivity of...

Answered: 1 week ago

Question

★★★★★
Credit card sales for Tent Rent, a party rental company, are given for a one-week period in July. All payments from the credit card company are directly deposited into Tent Rents bank account less a...

Answered: 1 week ago

Question

★★★★★
In your opinion, how important should case studies be in the establishment of a treatment method as valid?

Answered: 1 week ago

Question

★★★★★
PART 1 Dr. Jacobs West is an investment manager for Prokop Investments. He is currently faced with the question of which company to invest in. There are five potential investment companies located...

Answered: 1 week ago

Question

★★★★★
Glade Company produces a single product. The costs of producing and selling a single unit of this product at the Company's current activity level of 8,000 units per month are: The normal selling...

Answered: 1 week ago

Question

★★★★★
legal and ethical issues Topic and Definition Give 2 Examples Impact on PSW Invasion of Privacy 1. 2. Defamation of Character 1. 2. Harassment 1. 2. Libel vs. Slander 1. 2. Ethical Issues Review the...

Answered: 1 week ago

Question

★★★★★
There is an amusement park where children of a certain age get a discount. At the ticket kiosk, the computer asks the age of the participant. If their age is younger than 15, the entrance price is...

Answered: 1 week ago

Question

★★★★★
E23.3 (LO2, 3) (Preparation of Operating Activities SectionIndirect Method, Periodic Inventory) The income statement of Rodriquez SA is shown below. Rodriquez SA INCOME STATEMENT FOR THE YEAR ENDED...

Answered: 1 week ago

Question

★★★★★
Currently, over half the human population uses the internet, thus creating the growing problem of what is called "digital pollution" which originates from both the Earth materials used to make the...

Answered: 1 week ago

Question

★★★★★
A company named Contoso, Ltd. is migrating its legacy PBX system to Microsoft Teams Phone. As a Microsoft Teams administrator you want a single provider for Teams Phone and the PSTN carrier. What...

Answered: 1 week ago

Question

★★★★★
1.) On May 22, 2010, Nicanor bought house and lot valued at Php 10,000,000 paying 20% down-payment with the balance payable in 10 years. On September 30, 2019, Nicanor died. The fair market value at...

Answered: 1 week ago

Question

★★★★★
1. Determine what circumstances are causing the most stress in your life. For example, are you trying to work too many hours while going to school? Are you experiencing parental or peer pressure? Do...

Answered: 1 week ago

Question

★★★★★
Timeline for implementation report

Answered: 1 week ago

Question

★★★★★
a. What aspects of the situation are under your control?

Answered: 1 week ago

Previous Question Next Question