Question
Employees at XYZ Corporation are paid $20,000 cash every Friday for working Monday through Friday. The calendar year accounting period ends on Monday, December 31.
Employees at XYZ Corporation are paid $20,000 cash every Friday for working Monday through Friday. The calendar year accounting period ends on Monday, December 31. How much salary expense should be accrued on December 31?
a. $12,000
b. $8,000
c. $20,000
d. None, matching requires the weekly salary to be accrued on December 31.
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Supply Chain Management Accounting Managing Profitability Working Capital And Asset Utilization
Authors: Simon Templar
1st Edition
0749472995, 978-0749472993
