Answered: Explain if the business has a liability…

Business

Accounting

Explain if the business has a liability in respect of the accountant’s salary as at May 1st

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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Question

Mr. Mohammed has a big service company called Intaj in Ma’abila. He hired an accountant at the rate of 350 OMR per a week. The person is to start work on May 1^st. Explain if the business has a liability in respect of the accountant’s salary as at May 1^st

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