A company's accounting year ends on 31st December 2021. 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 2021, $10,000 remains unpaid. What is the salary to be accounted in the income statement for the period?

A company's accounting year ends on 31st December 2021. 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 2021, $10,000 remains unpaid. What is the salary to be accounted in the income statement for the period?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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