Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Get detailed answers to your questions from a community of experts dedicated to providing accurate information. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.
Sagot :
A company's year end was Tuesday, December 31. On Friday, January 3 the entire payroll for the week was recorded as an expense. This is an example of a payroll expense.
What is payroll expense?
The expenditures incurred by a company while hiring independent contractors and employees are known as payroll expenses. Start with the gross pay for the employee, then subtract any withholdings to arrive at the net pay. You must collect and maintain data in order to process payroll, and your payroll costs may fluctuate regularly.
The accrual method of accounting, which aligns revenue with costs, should be used by every company. Regardless of when you make the payment, the accrual method captures payroll costs in the month you incur them.
To know more about accrual method refer:
https://brainly.com/question/17233434
#SPJ4
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.
