A. Popcorn Company pays its employees' salaries bi-weekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2020 is as follows: 31/12/2019 31/12/2020 Employee advances Accrued salaries payable 12,000.00 18,000.00 15,000.00 Salaries expense during the year 815,000.00 Salaries paid during the year (gross) 780,000.00 At December 31, 2020, what amount should Popcorn company report for accrued salaries payable?
A. Popcorn Company pays its employees' salaries bi-weekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2020 is as follows: 31/12/2019 31/12/2020 Employee advances Accrued salaries payable 12,000.00 18,000.00 15,000.00 Salaries expense during the year 815,000.00 Salaries paid during the year (gross) 780,000.00 At December 31, 2020, what amount should Popcorn company report for accrued salaries payable?
Chapter5: Unemployment Compensation Taxes
Section: Chapter Questions
Problem 17PB
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