A Company Shows a Balance in Salaries and Wages Payable

question 198

Short Answer

A company shows a balance in Salaries and Wages Payable of ¥48,000 at the end of the month. The next payroll amounting to ¥54,000 is to be paid in the following month. What will be the journal entry to record the payment of salaries?

Understand and apply accounting terminology relevant to sole proprietorships.

Identify and explain the major fields and career opportunities in accounting.

Analyze financial statements and identify missing information.

Understand the importance and procedures of financial statement preparation.

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Definitions:

Ticket Prices

The cost charged for admission to an event or access to a service.

Price Ceilings

Government-imposed limits on the maximum prices that can be charged for certain goods and services, intended to protect consumers.

Ration Coupons

Certificates or vouchers that allow the holder to purchase a certain amount of scarce goods, often used during shortages to ensure fair distribution.

Legally Determined Market Prices

Prices set by law or regulation rather than by market forces of supply and demand.