Brown Company's salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries is as follows: 12/31/20 P12,000 47,000 Employee advances Accrued salaries payable Salaries expense for the year Salaries paid during the year (gross) 12/31/21 P 18,000 ? 650,000 625,000

Brown Company's salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries is as follows: 12/31/20 P12,000 47,000 Employee advances Accrued salaries payable Salaries expense for the year Salaries paid during the year (gross) 12/31/21 P 18,000 ? 650,000 625,000

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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