Answered

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A company pays each of its two office employees each Friday at the rate of $240 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is:

Sagot :

Debit Salaries Expense $960 and credit Salaries Payable $960.

What is salary expense?

  • Salaries expense is the fixed pay earned by employees.
  • The expense represents the cost of non-hourly labor for a business.
  • It is frequently subdivided into a salaries expense account for individual departments, such as: Salaries expense - accounting department. Salaries expense - engineering department.

Salary expense per employee = $240 per day

Number of employees = 2

Salary expense for 2 days = Salary expense per employee * Number of employees * 2 = $240 * 2 * 2 = $960

Now, calculate salary -

Date   Account title           Debit     Credit

        Salaries expense     $960  

                  Salaries payable             $960

         (To record salaries expense for 2 days)

Learn more about Salary expense brainly.com/question/27297680

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