assume that the weekly payroll of in the woods camping supplies is 300 538361
Assume that the weekly payroll of In the Woods Camping Supplies is $300. December 31, end of the year, falls on Tuesday, and In the Woods will pay its employee on Friday for the full week. What adjusting entry will In the Woods make on Tuesday, December 31? (Use five days as a full work week.)
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assume that the weekly payroll of in the woods camping supplies is 300 538361
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a. |
Salary expense |
120 |
|
|
Salary payable |
120 |
||
|
b. |
Salary payable |
300 |
|
|
Salary expense |
300 |
||
|
c. |
Salary expense |
180 |
|
|
Cash |
180 |
d. No adjustment is needed because the company will pay the payroll on Friday.
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