Question
OKAY Ltd.s year end is December 31. The last payroll was on Friday, December 22. Salaries paid on Friday, total $20,598 for all employees for
OKAY Ltd.s year end is December 31. The last payroll was on Friday, December 22. Salaries paid on Friday, total $20,598 for all employees for the 2 weeks prior. There is one more week until December 31. Next pay date is January 5.
Required:
- Which entries need to be made for December 31?
- What is the journal entry for December 31, 2017?
- Draw T-accounts for the above transaction accounts.
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Auditing And Assurance Services An Integrated Approach
Authors: Alvin A. Arens . Randal J. Elder . Mark S. Beasley
15th Global Edition
0273790005, 978-0273790006
