An entity has two office employees Ben and Dan who earn P250 and P400 per day, respectively. They were paid every Friday for a 5-day work week that begins on a Monday. Assuming that in 2018, December 31 fell on a Wednesday; Ben worked from Monday to Wednesday while Dan reported to work on Monday and Wednesday. How much salaries should be accrued on December 31?

An entity has two office employees Ben and Dan who earn P250 and P400 per day, respectively. They were paid every Friday for a 5-day work week that begins on a Monday. Assuming that in 2018, December 31 fell on a Wednesday; Ben worked from Monday to Wednesday while Dan reported to work on Monday and Wednesday. How much salaries should be accrued on December 31?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 45BE

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