A company's accounting year ends on 31st December 2016. During the year the company paid a salary of $100,000. This includes $8,000 for the previous financial year. Salary for the month of December 2016, $10,000 remains unpaid. What is the salary to be accounted in the income statement for the period? Income Statement would report a salary of $102,000 Income Statement would report a salary of $110,000 Income Statement would report a salary of $92,000 Income Statement would report a salary of $98,000

A company's accounting year ends on 31st December 2016. During the year the company paid a salary of $100,000. This includes $8,000 for the previous financial year. Salary for the month of December 2016, $10,000 remains unpaid. What is the salary to be accounted in the income statement for the period? Income Statement would report a salary of $102,000 Income Statement would report a salary of $110,000 Income Statement would report a salary of $92,000 Income Statement would report a salary of $98,000

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter11: Current Liabilities And Payroll

Section: Chapter Questions

Problem 4PB

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