When an employer does not have a sophisticated time-keeping system, it is valid to accrue a percentage of wages at end-of-period based on:a. it is never valid to estimate an end-of-period adjustment.b. a percentage based on the previous period's payroll (for example. 4 out of 5 days = 80% x prior payroll).c. a percentage that external auditors provide the payroll clerk.d. a percentage suggested by the IRS.
When an employer does not have a sophisticated time-keeping system, it is valid to accrue a percentage of wages at end-of-period based on:a. it is never valid to estimate an end-of-period adjustment.b. a percentage based on the previous period's payroll (for example. 4 out of 5 days = 80% x prior payroll).c. a percentage that external auditors provide the payroll clerk.d. a percentage suggested by the IRS.
Chapter6: Analysing And Journalizing Payroll
Section: Chapter Questions
Problem 3QD
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When an employer does not have a sophisticated time-keeping system, it is valid to accrue a percentage of wages at end-of-period based on:
a. it is never valid to estimate an end-of-period adjustment.
b. a percentage based on the previous period's payroll (for example. 4 out of 5 days = 80% x prior payroll).
c. a percentage that external auditors provide the payroll clerk.
d. a percentage suggested by the IRS.
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