Homework Answers
| Total salary paid to 15 employess for 5 Days 6 January2020 | |||
| Previous salry paid for 2 days | |||
| Current year salary paid for 3 Days | |||
| Salary for employess per day is $ 2,100 | |||
| Salary for 2 days is debited to salary payable account | |||
| Salary for 3 days is debited to salary account as current salary | |||
| Accrued salary = 2100 X 2 = 4200 | |||
| Current salary = 2100 X 3 = 6300 | |||
| Debit | Credit | ||
| Salary payable account | 4,200 | ||
| Salay expense Account | 6,300 | ||
| To Cash | 10,500 | ||
| (Salary paid by Cash) | |||
| The above entry is on the assumption of the year is ending on 31st Dec- 2019 |
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