The company has the following list of employees: a) Manager with daily salary of P1,000 b) 2 sales staff each receiving P2,850 a week c) Messenger with a daily rate of P420 d) Accounting staff with weekly salary of P3,000 The company policy is to pay its employees every Saturday after a 6-day work from Monday to Saturday. Supposed the last payday for the year 2020 falls on December 28, by what amount should be recorded as accrued salaries at December 31, 2020?

The company has the following list of employees: a) Manager with daily salary of P1,000 b) 2 sales staff each receiving P2,850 a week c) Messenger with a daily rate of P420 d) Accounting staff with weekly salary of P3,000 The company policy is to pay its employees every Saturday after a 6-day work from Monday to Saturday. Supposed the last payday for the year 2020 falls on December 28, by what amount should be recorded as accrued salaries at December 31, 2020?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter10: Payroll Register (pr)

Section: Chapter Questions

Problem 4R

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