Siomai Company salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2021 is as follows: - Employee advances, Dec. 31, 2020 - P12,000 - Employee advances, Dec. 31, 2021 - P18,000 - Accrued salaries payable, Dec. 31, 2021- P100,000 Salaries expense during the year- P815,000 Salaries paid during the year (gross) 780,000 On December 31, 2020, what amount should Siomai report as accrued salaries pavable? *
Siomai Company salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2021 is as follows: - Employee advances, Dec. 31, 2020 - P12,000 - Employee advances, Dec. 31, 2021 - P18,000 - Accrued salaries payable, Dec. 31, 2021- P100,000 Salaries expense during the year- P815,000 Salaries paid during the year (gross) 780,000 On December 31, 2020, what amount should Siomai report as accrued salaries pavable? *
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 4E
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