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Essay's paper info
Topic: Technology
Number of pages / Number of words: 3 / 617
Essay's paper body

What entry does SuCo record on December

31?

SOLUTION 2: On December 31, SuCo records the following adjusting

entry:

Telephone Expense 740

Telephone Payable 740

To accrue telephone expense

PROBLEM 3: RaCo pays employees weekly on Friday. But 19X7 ends

on a Wednesday. If, for the last week of the year, gross payroll is

$10,000, how much does RaCo accrue for salary expense?

SOLUTION 3: RaCo must accrue 19X7 salary expense for 3 of the

5 days, Monday, Tuesday, and Wednesday, which is 60% (3/5) of the

week...


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But 19X7 ends

on a Wednesday. If, for the last week of the year, gross payroll is

$10,000, how much does RaCo accrue for salary expense?

SOLUTION 3: RaCo must accrue 19X7 salary expense for 3 of the

5 days, Monday, Tuesday, and Wednesday, which is 60% (3/5) of the

week. To compute accrued payroll expense (payroll expense incurred

but not paid) for the last week of 19X7: $10,000 x 60% = $6,000 accrued

payroll expense for 19X7...


Essay fragment

General points of the essay

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