Problem
Tuck Company pays its employees weekly based on a 5 day 40 hour work week and the gross payroll is $20,900.
• Required I: On June 30th there are 2 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on June 30th balance sheet?
• Required II: On August 31st there are 4 days accrued payroll to recognize in the monthly financials. How much is the accrued liability on August 31st balance sheet?
• Required III: On January 31st there is 1 day accrued payroll to recognize in the monthly financials. How much is the accrued liability on January 31st balance sheet?