Mason has a mason painting services has a weekly payroll of $28,000. december 31 fails on wednesday and mason will pay its employees following monday (january 5) for the previous full week. assume that mason has a five - day workweek and has an unadjusted balance in salaries expense of $790,000. what amount should be debited to salaries expense on december 31?
a $790,000
b. $11.200
c $28,000
d, $16,000

The answer is: Mason should debit salaries expense by $16,800 on December 31

Explanation:

We can determine the daily payroll for Mason Painting Services:

daily payroll = 28000 / 5 days = $5,600

Mason's employees worked for last 3 days of the year, so we just multiply the daily payroll by 3 days:

Dr salaries expense = $5,600 per day x 3 days = $16,800

c is the correct answer.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi