1. Paid $162,000 for salary up to 9th March (Tuesday). All employees work a five-day week and are paid every four weeks on the following Wednesday, based on the number of days they have worked in the last four weeks. Employees are entitled to full pay on public holidays but not on Saturday and Sunday. The employees receive a total salary of $40,500 for a five-day work week. 2. The employees receive a total salary of $40,500 for a five-day work week. All employees worked for the whole month of March. What are the double entries for these two point?
1. Paid $162,000 for salary up to 9th March (Tuesday). All employees work a five-day week and are paid every four weeks on the following Wednesday, based on the number of days they have worked in the last four weeks. Employees are entitled to full pay on public holidays but not on Saturday and Sunday. The employees receive a total salary of $40,500 for a five-day work week. 2. The employees receive a total salary of $40,500 for a five-day work week. All employees worked for the whole month of March. What are the double entries for these two point?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Paid $162,000 for salary up to 9th March (Tuesday). All employees work a
five-day week and are paid every four weeks on the following Wednesday,
based on the number of days they have worked in the last four weeks.
Employees are entitled to full pay on public holidays but not on Saturday
and Sunday. The employees receive a total salary of $40,500 for a five-day
work week.
2. The employees receive a total salary of $40,500 for a five-day work week.
All employees worked for the whole month of March.
What are the double entries for these two point?
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