Question
Q8,9 Given below is extract of the Trial Balance as on 31 December, 2017 of Safeer Furniture Mart: Debit Salaries and Wages $35,000 Rent $25,000
Q8,9
Given below is extract of the Trial Balance as on 31 December, 2017 of Safeer Furniture Mart:
Debit
Salaries and Wages $35,000
Rent $25,000
Other Information:
Salaries and Wages accrued for the year amounted to $3,200
Rent Prepaid for the year was $2,500
What amount will appear as Salaries and Wages expense in the income statement for the year ended 31 December, 2017? $37,500$32,500$38,200$31,800
How will the amount of Accrued Salaries and wages appear in the Statement of Financial Position as on 31 December, 2017? $35,000 as a current liability$3,200 as a current asset$3,200 as a current liability$37,200 as a current asset
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