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Question No. (1) (10 minutes): Mara Bolton, an employee in ABC Company, receives wage at a rate of $10 per hour. At the beginning of
Question No. (1) (10 minutes): Mara Bolton, an employee in ABC Company, receives wage at a rate of $10 per hour. At the beginning of 2016, ABC Company owed her a balance of 200 hours from the previous year 2015, of which ABC Company paid her 150 hours during 2016. During 2016 Mara actually worked 1000 hours. Of the 1000 hours worked in 2016, Mara was paid cash for 950 hours only. Show calculations determining for 2016: A. Amount of Salaries expense that will appear in the Income statement for 2016. B. Cash paid to Mara during 2016. C. Balance of Salaries payable at 31/12/2016 (Salaries still not paid to Mara). HINT: Prepare Ledger T Accounts
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