Tuck Company pays its employees weekly based on a 5 day 40 hour work week and the
Question:
Tuck Company pays its employees weekly based on a 5 day 40 hour work week and the gross payroll is $12,945.
Required 1: On June 30th there are 2 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on June 30th balance sheet? Ignore withholding taxes:
Required 2: On August 31st there are 4 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on August 31st balance sheet? Ignore withholding taxes:
Required 3: On January 31st there is 1 day accrued payroll to recognize in the monthly financials. How much is the accrued liability on January 31st balance sheet? Ignore withholding taxes:
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille