ABC Company's salaried employees are paid biweekly (1.e., once every two weeks). Advances made to employees are paid back through payroll deductions. Information relating to salaries for the calendar year 2021 is as follows: 31 December 2020 Php 24,000 182,000 31 December 2021 Employee advances Accrued salaries payable Salaries expense during the year Salaries paid during the year (gross) Php 36,000 ??? 1,820,000 1,750,000 XXX XXX At 31 December 2021, what amount should ABC Company report for accrued salaries payable?
ABC Company's salaried employees are paid biweekly (1.e., once every two weeks). Advances made to employees are paid back through payroll deductions. Information relating to salaries for the calendar year 2021 is as follows: 31 December 2020 Php 24,000 182,000 31 December 2021 Employee advances Accrued salaries payable Salaries expense during the year Salaries paid during the year (gross) Php 36,000 ??? 1,820,000 1,750,000 XXX XXX At 31 December 2021, what amount should ABC Company report for accrued salaries payable?
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:ABC Company's salaried employees are paid biweekly (i.e., once every two weeks). Advances made
to employees are paid back through payroll deductions. Information relating to salaries for the calendar
year 2021 is as follows:
Employee advances
Accrued salaries payable
Salaries expense during the year
Salaries paid during the year (gross)
31 December 2020
Php 24,000
182,000
31 December 2021
Php 36,000
???
1,820,000
1,750,000
XXX
XXX
At 31 December 2021, what amount should ABC Company report for accrued salaries payable?
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