Mason Painting Services has a weekly payroll of $25,000. December 31 falls on Wednesday and Mason will pay its employees the following Monday (January 5) for the previous full week. Assume that Mason has a five−day workweek and has an unadjusted balance in Salaries Expense of $800,000 at December 31. What amount should be debited to Salaries Expense on December 31?
Mason Painting Services has a weekly payroll of $25,000. December 31 falls on Wednesday and Mason will pay its employees the following Monday (January 5) for the previous full week. Assume that Mason has a five−day workweek and has an unadjusted balance in Salaries Expense of $800,000 at December 31. What amount should be debited to Salaries Expense on December 31?
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter8: Payroll Accounting: Employee Earnings And Deductions
Section: Chapter Questions
Problem 1CP: Irina Company pays its employees weekly. The last pay period for 20-1 was on December 28. From...
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Mason Painting Services has a weekly payroll of
$25,000. December 31 falls on Wednesday and Mason will pay its employees the following Monday (January 5) for the previous full week. Assume that Mason has a five−day workweek and has an unadjusted balance in Salaries Expense of $800,000 at December 31. What amount should be debited to Salaries Expense on December 31?
$15,000
$25,000
$10,000
$800,000
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