Zuhoor Muscat Company pays a total of RO 21,000 salaries to its employees on the 25th of each month (including the work for the 25th). It uses 30 days as an average number of pay days per month. The necessary adjusting entry to be prepared to record accrued salaries on September 30, will include: a. Credit to Salaries Expense RO 17,500. O b. Debit to Salaries Expense RO 1,500. O c. None of the options are correct. O d. Credit to Salaries Payable RO 700. e. Debit to Salaries Expense RO 3,500.
Zuhoor Muscat Company pays a total of RO 21,000 salaries to its employees on the 25th of each month (including the work for the 25th). It uses 30 days as an average number of pay days per month. The necessary adjusting entry to be prepared to record accrued salaries on September 30, will include: a. Credit to Salaries Expense RO 17,500. O b. Debit to Salaries Expense RO 1,500. O c. None of the options are correct. O d. Credit to Salaries Payable RO 700. e. Debit to Salaries Expense RO 3,500.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 5RE: Garcia Company rents out a portion of its building to Jerry Company for 1,000 per month. On August...
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