Tuck Company pays its employees weekly based on a 5 day 40 hour work week and the gross payroll is $21,150. Required 1: On June 30th there are 2 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on June 30th balance sheet? Ignore withholding taxes. $ Required 2: On August 31st there are 4 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on August 31st balance sheet? Ignore withholding taxes. $ Required 3: On January 31st there is 1 day accrued payroll to recognize in the monthly financials. How much is the accrued liability on January 31st balance sheet? Ignore withholding taxes. $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tuck Company pays its employees weekly based on a 5 day 40 hour work week and the gross payroll is $21,150.
Required 1: On June 30th there are 2 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on
June 30th balance sheet? Ignore withholding taxes. $[
Required 2: On August 31st there are 4 days accrued payroll to recognize in the monthly financials. How much is the accrued liability
on August 31st balance sheet? Ignore withholding taxes. $
Required 3: On January 31st there is 1 day accrued payroll to recognize in the monthly financials. How much is the accrued liability on
January 31st balance sheet? Ignore withholding taxes.
Transcribed Image Text:Tuck Company pays its employees weekly based on a 5 day 40 hour work week and the gross payroll is $21,150. Required 1: On June 30th there are 2 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on June 30th balance sheet? Ignore withholding taxes. $[ Required 2: On August 31st there are 4 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on August 31st balance sheet? Ignore withholding taxes. $ Required 3: On January 31st there is 1 day accrued payroll to recognize in the monthly financials. How much is the accrued liability on January 31st balance sheet? Ignore withholding taxes.
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