1. On Friday, April 3, 2020 Adriana will pay salaries of $5,000for two weeks for days worked...
Question:
1. On Friday, April 3, 2020 Adriana will pay salaries of $5,000for two weeks for days worked up to and including April 3, 2020.Employees do not work weekends.
Financial Statements are prepared on a monthly basis.
At March 31, 2020 how many days of pay need to be accrued?
2. On Friday, April 3, 2020 Adriana will pay salaries of $5,000for two weeks, for days worked up to and including April 3, 2020.Employees do not work weekends.
Financial Statements are prepared on a monthly basis.
At March 31, 2020 what is the accrued wages?
3. Students paid $30,000 in advance for cooking classes. At the end of the month, March 31, 2020, Adriana finished teaching$10,000 worth of cooking classes.
Financial Statements are prepared on a monthly basis. What amount of revenue would be recognized at March 31, 2020?
Fundamental Accounting Principles Volume 1
ISBN: 9781259259807
15th Canadian Edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann