11. Tito Ben is the owner of Jack's Magic Touch which offers beauty solutions to their customers. Jen is the nail specialist of the salon. If you are the bookkeeper of the entity, how would you account the payments received from Jen's customers? a. Salaries expense b. Service Income c. Salaries Income d. None of the above 12. From the above problem, if Jen receives a salary from Jack's Magic Touch amounting to P12,000 for one month, such payment will be treated as____________ in Jack's Magic Touch Statement of Comprehensive Income a. Salaries expense b. Service Income c. Salaries Income d. None of the above

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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11. Tito Ben is the owner of Jack's Magic Touch which offers beauty solutions to their customers. Jen is the nail specialist of the salon. If you are the bookkeeper of the entity, how would you account the payments received from Jen's customers? a. Salaries expense b. Service Income c. Salaries Income d. None of the above 12. From the above problem, if Jen receives a salary from Jack's Magic Touch amounting to P12,000 for one month, such payment will be treated as____________ in Jack's Magic Touch Statement of Comprehensive Income a. Salaries expense b. Service Income c. Salaries Income d. None of the above
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