IA operates 5 days per week with a daily payroll of $4,000. Employees are paid every Saturday for the workweek just cmpletes (Monday through Friday) The last day of the month is Wed., March 31. What is the amount of the wages expense recorded on the next payday, Sat. April 3?

Answer 1

On April 3 they will have completed a 5 day work week of March 29 to April 2. A five day payroll would be $20,000. If they record weekly payments, that is what it should be.